US stocks close higher; Nasdaq hits record high

US stocks closed in the green on Monday, despite new trade threats by President Donald Trump, as investors speculated that trade partners would ultimately reach agreements to reduce tariffs.

The Dow Jones Industrial Average closed up 0.20%, or 88 points, at 44,459 points.

The S&P 500 rose by 0.15%, or approximately 9 points, closing at 6,268 points. The Nasdaq Composite advanced 0.25%, or 54 points, to end the session at 20,640 points, marking a new all-time high.

In Europe, the Stoxx Europe 600 index remained stable, closing at 546.99 points, despite a 1.4% decline in the automotive sector.

Germany’s DAX fell by 0.4% to 24,160 points, and France’s CAC 40 dipped 0.25% to 7,808 points. In contrast, the UK’s FTSE 100 rose 0.65% to close at 8,998 points.

In Japan, the Nikkei 225 declined by 0.3% to settle at 39,459 points, whereas the broader Topix index was flat, closing at 2,822 points.

In commodities markets, Brent crude futures for September delivery fell by 1.65%, or $1.15, to settle at $69.21 per barrel.

West Texas Intermediate (WTI) crude futures for August delivery also declined, dropping 2.15%, or $1.47, to close at $66.98 per barrel.

As for gold, August futures for the precious metal slipped by 0.15%, or $4.90, to end the session at $3,359.10 per ounce.

Over the weekend, Trump announced he would impose a 30% tariff on most imports from the EU and Mexico, effective next month.

On Monday, European Trade Commissioner Maros Sefcovic stated that EU member states had agreed on the need for retaliatory measures if trade negotiations fail. Trump, however, expressed willingness to continue trade talks with the bloc.