Wall Street Holds Its Breath Amid Mixed Signals

Wall Street experienced volatility as investors ignored new tariff threats and focused on economic data and second-quarter earnings. President Trump announced a new tariff on EU and Mexican imports, but investors were more concerned about upcoming consumer price data and earnings reports. The S&P 500 remained mostly flat, while Nvidia and Meta stocks showed gains.

Wall Street saw uneven trading on Monday as investors largely dismissed President Trump's latest tariff threats, redirecting their attention to a week teeming with economic data and the onset of the second-quarter earnings season.

President Trump heightened trade tensions over the weekend, declaring a 30% tariff on most imports from the EU and Mexico from August 1, putting pressure on last-minute trade agreements. The EU has paused retaliatory measures until early August, clinging to hopes of a negotiated peace. The White House disclosed that discussions with the EU, Canada, and Mexico are still ongoing.

Investors seemed unfazed by Trump's frequent tariff threats, focusing instead on the second-quarter earnings kickoff, with Wall Street's banks expected to report on Tuesday. The S&P 500 and the Dow saw little movement, while the tech-centered Nasdaq rose by 0.16%. Chipmakers, including Micron and Intel, faced losses. Meanwhile, RBC Capital Markets raised its S&P 500 year-end target, reflecting investor optimism.

(With inputs from agencies.)