NEW YORK (AP) — U.S. stocks are hanging near record highs Monday after the United States agreed to tax cars and other products coming from the European Union at a 15% rate, lower than President Donald Trump had earlier threatened. Many details are still to be worked out, however, and Wall Street is heading into a week full of potential flashpoints that could shake markets.

The S&P 500 added another 0.1% in early trading after setting an all-time high every day last week. The Dow Jones Industrial Average fell 19 points, or less than 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite is 0.3% higher, coming off its own record.

Stocks of U.S. companies that produce and move liquefied natural gas helped drive the market after the head of the European Commission said the bloc’s members would buy $750 billion of U.S. energy products over the next three years. That would help lessen Europe’s reliance on Russia for natural gas. Cheniere Energy climbed 4.2%, while NextDecade rose 3.4%.

Tesla added 0.2% after its CEO, Elon Musk, said it signed a deal with Samsung Electronics that could be worth more than $16.5 billion to provide chips for the electric-vehicle company. Samsung’s stock in South Korea jumped 6.8%.

Many more fireworks may be ahead this week. “This is about as busy as a week can get in the markets,” according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.

Hundreds of U.S. companies are lined up and ready to report how much profit they made during the spring, with nearly a third of all the businesses in the S&P 500 index scheduled to deliver updates. That includes market heavyweights Apple, Amazon, Meta Platforms and Microsoft. Those companies have grown so huge that their stock movements can almost solely dictate what the overall S&P 500 index does. Microsoft alone is worth roughly $3.8 trillion,

On Wednesday, the Federal Reserve will announce its latest decision on interest rates.

Trump has been loudly and angrily calling for the Fed to cut interest rates, a move that could help give the economy a boost. But Fed Chair Jerome Powell has been insisting that he wants to wait for more data about how Trump’s tariffs are affecting the economy and inflation before the Fed makes its next move. Lower interest rates also can give inflation more fuel, and the economy only recently came out of its scarring run where inflation briefly topped 9%.

The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates, though a couple of Trump’s appointees could dissent in the vote. The Fed has been on hold with interest rates this year since cutting them several times at the end of 2024.

This week will also feature several potentially market-moving updates about the economy. On Tuesday will come reports on how confident U.S. consumers are feeling and how many jobs openings U.S. employers were advertising. Wednesday will show the first estimate of how quickly the U.S. economy grew during the spring, and economists expect to see a slowdown from the first three months of the year.

On Thursday, the latest measure of inflation that the Federal Reserve prefers to use will arrive. A modest reading could give the Fed more leeway to cut interest rates in the short term, while a hotter-than-expected figure could make it more cautious.

And Friday will bring an update on how many more workers U.S. employers hired during June than they fired.

Treasury yields held relatively steady in the bond market ahead of all that action. The yield on the 10-year Treasury was remaining at 4.40%, where it was late Friday. The two-year Treasury yield, which more closely tracks expectations for Fed action, edged up to 3.92% from 3.91%.

In stock markets abroad, indexes were mixed in Europe amid mostly modest movements following the announcement of the trade deal’s framework.

Chinese stocks rose as officials from the world’s second-largest economy prepare to meet with a U.S. delegation in Sweden for trade talks. Stocks climbed 0.7% in Hong Kong and 0.1% in Shanghai.

Indexes were mixed across the rest of Asia, where Japan’s Nikkei 225 fell 1.1% for one of the world’s bigger losses. Doubts surfaced over what exactly last week’s trade truce between Japan and Trump entails, especially Japan’s $550 billion pledge of investment in the U.S.

Terms of the deal are still being negotiated, and nothing has been formalized in writing, said an official who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump’s direction.

This story was originally featured on Fortune.com

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Stocks climbed to more records on Wall Street. The S&P 500 rose 0.4% Friday, setting an all-time high for the fifth time this week. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq composite added 0.2% to its own record set the day before. Deckers helped lead the way with a gain of 11.3%. The company behind Ugg boots and Hoka shoes reported stronger profit and revenue than analysts expected. That helped offset a sharp drop for Intel, which sank 8.5% after saying it would cut thousands of jobs as it tries to turn around its struggling fortunes.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

NEW YORK (AP) — U.S. stocks are rising toward more records on Friday and coasting toward the close of another winning week.

The S&P 500 was 0.5% higher in late trading and on track to close at an all-time high every day of this week. The Dow Jones Industrial Average was up 221 points, or 0.5%, with less than an hour remaining in trading, and the Nasdaq composite was adding 0.4% to its own record set the day before.

Deckers, the company behind Ugg boots and Hoka shoes, jumped 12.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%.

Edwards Lifesciences rose 4.3% after likewise topping Wall Street’s expectations for profit in the latest quarter. It said it saw strength across all its product groups, and it expects profit for the full year to come in at the high end of the forecasted range it had given earlier.

They helped offset a drop of 9.3% for Intel, which fell after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars.

The pressure is on companies to deliver solid growth in profits in order to justify the rallies in their stock prices to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1.

Besides potential trade talks, next week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the U.S. government money on its debt repayments.

Fed Chair Jerome Powell, though, has continued to insist he wants to wait for more data about how Trump’s tariffs affect the economy and inflation before the Fed makes its next move. Lower interest rates can help goose the economy, but they can also give inflation more fuel.

Lower rates also may not lower the U.S. government’s costs to borrow money, if the bond market feels they could send inflation higher in the future. In that case, lower short-term rates brought by the Fed could actually have the opposite effect and raise the interest rates that Washington must pay to borrow money over the long term.

The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates.

In the bond market, Treasury yields held relatively steady following Trump’s latest attempt to push Powell to cut interest rates. Trump also seemed to back off on threats to fire the Fed’s chair.

“To do that is a big move, and I don’t think that’s necessary,” Trump said. “I just want to see one thing happen, very simple: Interest rates come down.”

If Trump fired Powell, he’d risk freaking out financial markets by raising the possibility of a less independent Fed, one unable to make unpopular choices necessary to keep the economy healthy.

The yield on the 10-year Treasury eased to 4.38% from 4.43% late Thursday. The two-year Treasury yield, which more closely tracks expectations for what the Fed will do, held steady at 3.91%, where it was late Thursday.

In stock markets abroad, indexes slipped across much of Europe and Asia.

Stocks fell 1.1% in Hong Kong and 0.3% in Shanghai. U.S. Treasury Secretary Scott Bessent has said he will meet with Chinese officials in Sweden next week to work toward a trade deal with Beijing ahead of an Aug. 12 deadline. Trump has said a China trip “is not too distant” as trade tensions ease.

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AP Writers Teresa Cerojano and Matt Ott contributed.

This story was originally featured on Fortune.com

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