US markets trade mixed on US-European Union Tariff deal: S&P 500 up 0.1 %, Dow Jones trades lower

Apart from tariffs, US markets will be keeping a watch on key earnings through the week including the Magnificent 7 as well as the Fed meeting on Wednesday.

After trading higher in pre-market hours, US markets opened on a muted note. The S&P 500 edged up 0.1 percent at the open, while the Dow Jones Industrial Average dipped 0.1 percent. The Nasdaq Composite gained 0.3 percent. US futures had been trending higher following President Trump's announcement on Sunday of a tariff agreement between the United States and the European Union.

European markets initially reacted positively to the trade deal, opening higher in early trading. However, by mid-session, most major indices had reversed course, with the Stoxx 600 down 0.12% and the FTSE 100 falling 0.6%.

On tariffs, President Trump also told reporters on Monday that he is giving Russian President Vladimir Putin less than two weeks to either reach a peace deal with Ukraine or face secondary tariffs on Moscow’s trade partners. He also noted that he will likely implement a blanket tariff between 15 and 20% on imports to the United States from countries that have not negotiated separate trade agreements.

Apart from tariffs, there will be a lot for US markets markets to keep a watch on including key earnings through the week (such as the Magnificent 7) as well as the Fed meeting on Wednesday.

Top gainers during early trades were Super Micro Computers, Nike, Honeywell and Advanced Micro Devices.

Asian Markets Mixed

On the other hand, Hong Kong’s Hang Seng Index rose 0.68% to close at 25,562.13, China’s CSI 300 index increased by 0.21% to 4,135.82 and South Korea’s Kospi index gained 0.42% to close at 3,209.52. In India, at close, the Sensex was down 572.07 points or 0.70 percent at 80,891.02, and the Nifty was down 156.10 points or 0.63 percent at 24,680.90.