Wall Street kicks off new with across-the-board gains
"The EU continues to work with the U.S. to finalise a Joint Statement, as agreed on 27 July," a spokesperson for the European Commission said Monday.
"With these objectives in mind, the Commission will take the necessary steps to suspend by 6 months the EU's countermeasures against the U.S., which were due to enter into force on 7 August."
The U.S. and the European Commission cemented a trade deal at a meeting between U.S. President Donald Trump and European Commission President Ursula von der Leyen at Mr Trump's golf course resort in Scotland on 27 July 2025.
Ms von der Leyen at the time, remarked that Mr Trump was "a tough negotiator, but he is also a dealmaker."
U.S. stock markets closed sharply higher on Monday, with strong gains across the board.
The Standard and Poor's 500 (^GSPC) surged 1.47 percent, adding 91.93 points to close at 6,329.94, as investor optimism drove broad-based buying.
The Dow Jones Industrial Average (^DJI) climbed 1.34 percent, rising 585.06 points to finish at 44,173.64, marking its best session in weeks.
Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) outperformed with a 1.95 percent gain, jumping 403.45 points to 21,053.58, led by strong performances in big tech and growth stocks.
Trading volumes were robust, with the S&P 500 seeing 2.957 billion shares traded, the Dow recording 509.404 million, and the Nasdaq logging 5.865 billion shares exchanged.
Global Forex Markets Show Mixed Movements on Monday
The foreign exchange market saw mixed movements in major currency pairs at the start of the week, with the U.S. dollar showing varied performance against its counterparts.
The EUR/USD pair edged lower, trading at 1.1571, down 0.12 percent as the euro weakened slightly against the greenback. Meanwhile, the USD/JPY declined to 146.95, falling 0.29 percent as the yen gained ground.
The USD/CAD pair also dipped modestly, settling at 1.3778, a decrease of 0.06 percent, while the GBP/USD saw a slight uptick, rising 0.06 percent to 1.3279 as the British pound stabilized after last week's losses.
The Swiss franc weakened against the dollar, with USD/CHF climbing 0.56 percent to 0.8078. In the Pacific region, the AUD/USD slipped 0.04 percent to 0.6464, and the NZD/USD dropped 0.13 percent to 0.5904, reflecting subdued risk appetite.
Global Stock Markets Close Mixed on Monday; European Indices Lead Gains
Global stock markets delivered a mixed performance on Monday, with European indices posting strong gains while some Asian markets struggled. European markets surged, with Germany's DAX leading the charge, climbing over 1.4 percent amid optimism over corporate earnings and economic data. Asian markets were mixed, with Japan's Nikkei 225 dropping 509 points or 1.25 percent, while India's Sensex and Hong Kong's Hang Seng posted modest gains. China's benchmark index edged higher, supported by positive sentiment in select sectors. South Africa's Top 40 index outperformed with a 2.51 percent jump, while Egypt's EGX 30 also saw strong gains.
Here's a breakdown of Monday's key closing figures:
Canada
In contrast to U.S. markets Canada'sS&P/TSX Composite (^GSPTSE)bucked the trend, falling0.88 percentor239.37 pointsto27,020.43, weighed down by declines in energy and financial sectors.
UK and Europe
FTSE 100 (^FTSE): 9,128.30, up 59.72 points (+0.66 percent)
DAX (^GDAXI): 23,757.69, up 331.72 points (+1.42 percent)
CAC 40 (^FCHI): 7,632.01, up 85.85 points (+1.14 percent)
EURO STOXX 50 (^STOXX50E): 5,242.32, up 76.72 points (+1.49 percent)
Euronext 100 (^N100): 1,558.34, up 16.95 points (+1.10 percent)
BEL 20 (^BFX): 4,608.87, up 43.50 points (+0.95 percent)
Asia-Pacific
Hang Seng (^HSI): 24,733.45, up 225.64 points (+0.92 percent)
SSE Composite (000001.SS): 3,583.31, up 23.36 points (+0.66 percent)
STI Index (^STI): 4,197.23, up 43.40 points (+1.04 percent)
S&P/ASX 200 (^AXJO): 8,663.70, up 1.70 points (+0.02 percent)
All Ordinaries (^AORD): 8,922.00, up 4.90 points (+0.05 percent)
S&P BSE SENSEX (^BSESN): 81,018.72, up 418.81 points (+0.52 percent)
IDX Composite (^JKSE): 7,464.65, down 73.12 points (-0.97 percent)
FTSE Bursa Malaysia KLCI (^KLSE): 1,526.98, down 6.37 points (-0.42 percent)
S&P/NZX 50 (^NZ50): 12,684.04, down 45.36 points (-0.36 percent)
KOSPI (^KS11): 3,147.75, up 28.34 points (+0.91 percent)
TWSE (^TWII): 23,378.94, down 55.44 points (-0.24 percent)
Middle East & Africa
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