S&P 500 crosses 6,300, Nasdaq notches record with Big Tech set to take earnings spotlight

US stocks closed mixed on Monday, but the Nasdaq Composite) and S&P 500 managed to notch fresh records. Wall Street began a busy week of Big Tech-highlighted earnings and eyed the continued risks around President Trump's tariffs.

The tech-heavy Nasdaq gained about 0.4%, notching its sixth-consecutive record close following last week’s record-setting rally in growth names. The S&P 500 rose just over 0.1% to close above 6,300 for the first time ever. Meanwhile, the Dow Jones Industrial Average flipped from gains to close just below the flatline.

On the trade front, the EU is said to be stepping up the scope of its retaliation if it fails to strike a trade pact with the US. Trump's increasingly hardline stance and EU member opposition to concessions are denting hopes for an agreement.

Over the weekend, Commerce Secretary Howard Lutnick reaffirmed the White House’s August deadline for new tariffs, calling it a "hard stop." Treasury Secretary Scott Bessent said the administration is prioritizing the quality of trade deals over simply making them.