U.S. stocks moved up slightly on Monday morning as investors looked ahead to a busy week of second-quarter earnings reports, with major firms set to announce results.

By 9:35 a.m. ET:

• The S&P 500 was up 16 points (0.3%)
• The Nasdaq Composite gained 81 points (0.4%)
• The Dow Jones Industrial Average rose 57 points (0.1%)

Markets had stalled near record highs last Friday amid reports that President Trump is pushing for new tariffs of at least 15% to 20% on European Union imports. These tariffs are expected to begin on August 1.

Big Tech Earnings in Focus

This week, Alphabet (Google’s parent company) and Tesla will report earnings on Wednesday. As part of the “Magnificent Seven” group of top tech stocks, their results could influence the broader market.

Last week, strong earnings from major banks supported investor sentiment, even as some banks warned about growing economic risks tied to the new tariffs. Investors are now watching closely to see how these tariffs might impact company forecasts for the rest of the year.

Monday’s Key Reports

• Verizon Communications raised the lower end of its annual earnings forecast, thanks to strong demand for premium wireless plans.
• Domino’s Pizza missed earnings expectations for the second quarter, but still beat sales estimates, lifting its stock.

Tariff Worries Keep Pressure on Markets

Despite strong earnings, markets remain uneasy about trade tensions. Trump is still considering baseline tariffs of 15% to 20% on EU goods. The EU is lobbying to keep current U.S. tariffs at 10%.

Trump’s broader strategy includes steep reciprocal tariffs on major trading partners, set to begin August 1. While trade talks are ongoing, the U.S. has finalized fewer deals than Trump had promised earlier in the year. This uncertainty has kept stock indexes just below recent record highs.

Oil Prices Slip on Trade and Sanctions Concerns

Oil prices fell slightly due to concerns that trade tensions will hurt demand and that EU sanctions could disrupt Russian oil supplies.

• Brent crude was down 0.7% to $68.79 per barrel
• West Texas Intermediate (WTI) fell 0.6% to $65.66 per barrel

Last week, the EU imposed new sanctions on Russia, including targeting India’s Nayara Energy, which exports oil products made from Russian crude.

Analysts at ING said the market reaction was subdued, suggesting traders are skeptical about how effective the sanctions will be. However, they noted that the biggest market impact could come from the EU banning imports of oil products refined from Russian crude in third countries.

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