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- US stocks open mostly up after EU trade deal. Busy week of earnings ahead</p>
<p>Medora Lee, USA TODAY July 28, 2025 at 7:03 PM</p>
<p>U.S. stocks opened mostly higher, with the broad S&P 500 and tech-heavy Nasdaq each scoring record highs already, after President Donald Trump struck a weekend trade deal with the European Union.</p>
<p>The new deal includes a 15% tariff on most European goods entering the U.S., similar to agreements struck recently between Trump and other major trading partners, including Japan. The levy is higher than the 10% rate sought by Europeans but less than the 30% Trump threatened earlier in July. Pharmaceuticals, steel and aluminum aren't included in the tariff deal.</p>
<p>Additionally, the EU will invest $600 billion in the U.S. and buy $750 billion worth of U.S. energy, Trump said.</p>
<p>More: Trump and EU reach trade deal ahead of looming deadline</p>
<p>"More adverse scenarios seem to have been avoided, for now, and this is excellent news but whether everything will now be 'big and huge' still remains to be seen," said Carsten Brzeski, global head of macro for Dutch bank ING.</p>
<p>At 9:32 a.m. ET, the blue-chip Dow dipped 0.06%, or 28.80 points, to 44,873.12; the S&P 500 added 0.12%, or 7.49 points, to 6,396.13; and the Nasdaq gained 0.35%, or 74.17 points, to 21,182.48. The benchmark 10-year yield rose to 4.406%.</p>
<p>Separately, the U.S. and China are expected to extend their tariff truce by another three months, the South China Morning Post reported. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng plan to have talks this week in Stockholm.</p>
<p>FILE PHOTO: A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS/Brendan McDermid/File PhotoBusy week ahead</p>
<p>With a trade deal with the U.S.' largest trading partner easing tariff fears, investors will turn to earnings and the Federal Reserve's policy meeting for more direction.</p>
<p>"This is about as busy as a week can get in the markets," said Chris Larkin, managing director of trading and investing at E*TRADE from Morgan Stanley. "The S&P 500 ended last week up more than 28% since April 8 -- the most it's gained in 74 trading days since July 2020. This week could make or break that momentum in the near term."</p>
<p>More than 175 S&P 500 companies are slated to report quarterly results this week, but the main events are more of the so-called Magnificent Seven influential megacap technology companies. They include Facebook parent Meta, Microsoft. Amazon and Apple. Investors will not only scrutinize the results but also any hints of tariff fears or waning artificial intelligence spending that has propelled these stocks, and the market, higher this year.</p>
<p>With about 30% of S&P 500 companies having reported results, overall quarterly earnings are on track for a 7.7% increase from a year ago, according to LSEG IBES. That's higher than the July 1 forecast for a 5.8% increase.</p>
<p>Meanwhile, virtually no one expects the Fed to lower rates this week but investors will look for clues on when it might. The Fed has said with the economy showing resiliency, it would wait to see how Trump's tariffs play out before moving rates. However, Trump suggested last week Powell might be ready to lower interest rates.</p>
<p>More: Trump's visit to Fed is latest twist in feud over interest rates that has long history</p>
<p>"If some board members dissent, it could increase expectations for a rate cut before the end of the year," Larkin said.</p>
<p>At the end of the week, after the Fed's meeting, investors will see more inflation and spending data and the key monthly jobs report to see if the labor market continues to hold up despite the Trump's back-and-forth tariff barbs over the past few months.</p>
<p>The economy is expected to have added 102,000 jobs in July, down from 147,000 in June. The unemployment rate is forecast to edge up to 4.2% from 4.1%.</p>
<p>"This week is not technically the midpoint of summer in the Northern Hemisphere, but it may as well be, because it will be the hottest of the year, in terms of market-moving information," said Mark Malek, chief investment officer at Siebert Financial. "Buckle up, folks, this week is the market inflection point of the year."</p>
<p>Corporate news -</p>
<p>Shares of Cheniere Energy, which provides liquefied natural gas, rose 3.63% after the European Union agreed to buy $750 billion of U.S. energy products as part of the new trade deal with the U.S.</p>
<p>Cryptocurrency</p>
<p>Japanese investment company Metaplanet said it bought 780 Bitcoin for a total cost of about $92 million. That brings its total holding to 17,132 Bitcoin.</p>
<p>Bitcoin was last down 0.84% at $118,445.60.</p>
<p>Ethereum was last down 1.12% at $3,834.74 after reaching a more than seven-month high.</p>
<p>(This story was with new information.)</p>
<p>Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at [email protected] and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.</p>
<p>This article originally appeared on USA TODAY: US stocks open up, with S&P 500 and Nasdaq at records, on EU deal</p>
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