S&P 500 slides for first time in 10 sessions as traders await details on trade deals: Live updates

The moved lower to start the week as investors monitored the latest developments on global trade, including another surprise set of tariffs from President Donald Trump.

The broad-market index shed 0.2%, while the dipped about 0.3%. The gained 115 points, or nearly 0.3%, meanwhile.

The major indexes cut losses after data Monday from the Institute for Supply Management reflected stronger-than-expected service sector activity in April, even as company executives reported rising concern about tariffs. At its lows, the Dow fell as much as 253.99 points, while the S&P 500 and Nasdaq lost around 1% each before rebounding.

Sentiment also improved after Bloomberg , citing sources, that India has proposed zero tariffs on steel, auto components and pharmaceuticals on a reciprocal basis and up to a certain amount of imports.

Investors remain uncertain about the timeline of tariff deals between the U.S. and other countries.

Treasury Secretary Scott Bessent told C온라인카지노사이트 on Monday that "we're very close to some deals," echoing comments from Trump on Sunday that deals could come as early as this week.

Trump told reporters on Sunday that "we're negotiating with many countries, but at the end of this, I'll set my own deals — because I set the deal, they don't set the deal." Trump added that has no plans to talk to Chinese President Xi Jinping, dashing hopes that progress is being made to ease U.S.-China trade tensions.

Trump on Sunday also authorized relevant government agencies to begin imposing a 100% tariff on films produced abroad, calling efforts from other nations to attract film productions a "national security threat." It remains unclear if the levies would impact movies shown in theaters or movies on streaming services. Shares of and , which are companies that film abroad, traded lower on Monday.

"I am worried, I was hoping trade deals would be announced by now. They're not. I don't think the impact has hit us yet," said Jeremy Siegel, finance professor at University of Pennsylvania's Wharton School of Business and Wisdom Tree chief economist.

Wall Street is looking ahead to the Federal Reserve's two-day policy meeting beginning on Tuesday, with a rate decision expected Wednesday. Fed funds futures trading points to just a 3.2% chance of a rate cut, according to the . Still, traders are keeping a close eye on any commentary from the central bank or Fed Chair Jerome Powell on the outlook for the economy amid heightened uncertainty stemming from the trade war. 

Last week, sentiment ran higher on hopes for a U.S. with major trading partners. The S&P 500 advanced nearly 1.5% on Friday, its ninth straight day of gains — its longest winning run since November 2004.

Goldman Sachs cuts U.S. oil price forecast on OPEC+ supply surge

Goldman Sachs now expects U.S. crude oil prices averaging $56 per barrel this year, down $3 from its previous forecast due to OPEC+ rapidly increasing supply to the global market.

The group of eight producers, led by Saudi Arabia, agreed on Saturday to surge supply by 411,000 barrels per day in June, after previously making a decision to do the same in May.

"Our key conviction remains that high spare capacity and high recession risk skew the risks to oil prices to the downside despite relatively tight spot fundamentals," Daan Struyven, head of Goldman's oil research, told clients in a Sunday note.

U.S. crude oil prices were last down 87 cents, or 1.49%, to $57.42 a barrel. Prices are down about 20% this year.

— Spencer Kimball

See the stocks moving midday

These are some of the stocks making the biggest moves midday:

•  — Warren Buffett's conglomerate saw shares drop more than 4%, retreating from record highs reached on Friday. Monday's sell-off came after the 94-year-old Buffett announced his intention to step down as CEO at year-end.
•  – Shares of the footwear company surged nearly 25% after it . 
•  — Shares fell nearly 6% after the motor fuel distributor shared its plan to  Parkland, a Canada-based competitor. 

for the full list.

— Alex Harring

Trade deals could come 'as early as this week,' Bessent says

Secretary Scott Bessent said Monday that the U.S. could strike trade agreements in the coming days but he did not identify specific countries where talks were closest to the finish line.

"We're very close to some deals. As President Trump said last night on Air Force One, maybe as early as this week," Bessent told C온라인카지노사이트 on "."

The Treasury leader did indicate that China is still further away from a potential deal and that formal discussions with that country have not begun.

"I think we could see substantial progress in the coming weeks, we'll see," Bessent said on China.

— Jesse Pound

India reportedly floats zero-tariff deal on steel and other items

India has proposed removing tariffs up to a certain limit for steel, auto components and pharmaceuticals as it seeks to strike a trade deal with the U.S. ahead of the July deadline for reciprocal tariffs, according to a report.

The deal would apply to a set threshold, after which normal tariffs could apply, according to the , which cited people familiar with the matter.

In recent days, U.S. officials have said they are near a deal with several nations, citing India as one potential agreement that could be reached soon. The report said Indian officials floated the proposal when they visited Washington in late April.

—Jeff Cox

Ackman calls for 180-day pause on tariffs

Pershing Square CEO Bill Ackman told Bloomberg News that he believes President Donald Trump is using tariffs in a "tactical way" but said the president should take more steps to reduce or further delay the potential damage to American companies.

"He did the right thing in pausing reciprocal tariffs for 90 days ... and I think the next step probably should be, I call it a 180-day pause, [and] take down the China tariffs," Ackman said.

Ackman also said that most companies in his portfolio, outside of , do not face major direct impacts from tariffs.

— Jesse Pound

ISM services index at 51.6 in April, higher than expected

Service sector activity in April was stronger than expected even as company executives reported rising concern about tariffs, according to a report Monday from the Institute for Supply Management.

The reading came in at 51.6, up 0.8 points from March and better than the Dow Jones estimate for 50.4. The index measures the percentage of companies reporting expansion, so anything about 50 is considered a sign of growth.

Within the survey, indexes measuring new orders, inventories, export orders, employment and backlogs all saw growth. Imports tumbled 8.3 points to 44.3, following a March in which purchase and supply managers increased orders ahead of President Donald Trump's April 2 tariff announcement.

Commentary from respondents reflected worry over tariffs, with many noting a general sense of uncertainty and being forced to grapple with higher prices.

—Jeff Cox

Footwear company Skechers to go private in $9 billion deal, shares pop nearly 25%

Footwear company has agreed to go private in a $9 billion deal.

Investment firm 3G Capital will pay $63 per share in cash for the outstanding stock, which is a 30% premium from the stock's 15-day volume-weighted average, the company said.

Skechers shares jumped about 25% on the news. Prior to the deal being announced, Skechers shares have been underperforming the market, with a decline of 26% year to date.

Other footwear stocks were trading higher as well. was up nearly 3%, while gained more than 1%. The sector, which produces many products outside the U.S., has been hard-hit by tariff news. Most stocks have logged double-digits declines in 2025.

—Christina Cheddar Berk

Stocks open in the red on Monday

The opened more than 240 points, or 0.6%, lower shortly after 9:30 a.m. ET. The shed 0.7%, along with the .

— Pia Singh

Streaming stocks fall after Trump announces 100% tariff on ex-U.S. movies

Streaming companies were trading lower in Monday's premarket hours after President Donald Trump announced in a a 100% tariff on movies produced outside of the U.S. to save the "dying" American movie industry.

"The Movie Industry in America is DYING a very fast death. Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Hollywood, and many other areas within the U.S.A., are being devastated," he wrote. "This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!"

Trump added: "WE WANT MOVIES MADE IN AMERICA, AGAIN!"

Shares of fell 5%, while and declined 3%. and each slipped 2%.

— Lisa Kailai Han

Stocks making the biggest moves before the bell: Howard Hughes, Sunoco and more

These are the stocks moving the most in premarket trading:

 — The stock popped 8% after the real estate developer and activist investor Bill Ackman's Pershing Square said the fund will  of Howard Hughes for $100 per share.

 — The travel stock dipped 1%, giving back some of its 7% gain from Friday. United announced on Friday that it was  out of Newark, N.J., citing staffing and technology issues at the airport.

 — Shares ticked lower nearly 1% after Sunoco announced it plans to acquire Parkland Corp.

Read the full list of stocks moving .

— Lisa Kailai Han

Ackman's Pershing Square gains more control of Howard Hughes with $900 million deal

Bill Ackman's Pershing Square has agreed to invest in real estate company , which the billionaire has said he wants to turn into a "modern-day Berkshire Hathaway."

In addition to the investment, Ackman will now become the executive chairman of Howard Hughes' board. Pershing Square chief investment officer Ryan Israel will take on the same title at Howard Hughes.

Shares of Howard Hughes rose more than 6% in premarket trading.

— Jesse Pound

Taiwanese dollar hits 3-year highs as Asian currencies rally amid greenback weakness

Asia-Pacific currencies appreciated Monday, led by the Taiwanese dollar, as the U.S. dollar weakened.

Taiwan's currency continued to strengthen, appreciating 5.77% against the greenback to 3-year highs of 28.93.

The offshore Chinese yuan strengthened 0.21% against the dollar to 7.196, hitting its strongest level since November 2024. The onshore yuan traded flat.

The Australian dollar appreciated by 0.62% against the greenback to trade at 0.648. The Singapore dollar strengthened by 0.62% to 1.289 against the greenback after the ruling People's Action Party secured a strong mandate.

The Japanese yen, which had weakened last week, appreciated 0.69% against the U.S. dollar to trade at 143.93, while the Indian rupee strengthened 0.27% against the greenback to 84.26.

Australia's benchmark ended the day 0.97% lower at 8,157.80. This is a reversal from the sharp gains in its previous session, when the index hit its .

Taiwan's benchmark Taiex plunged 1.23% in choppy trade to close at 20,532.99.

In India, the benchmark  added 0.47% to close at 24,461.15 while the BSE Sensex advanced 0.37% to 80,796.84.

Japanese, South Korean, Hong Kong and mainland China markets were closed for public holidays.

— Amala Balakrishner

Warren Buffett to stay as Berkshire chair, Greg Abel to become CEO at year-end

board on Sunday voted unanimously to make of the conglomerate come Jan. 1, 2026, while keeping Warren Buffett as chairman, sources told C온라인카지노사이트's Becky Quick.

This comes after Buffett shocked Berkshire shareholders at the company's annual meeting Saturday, saying in the last few minutes that he would recommend the board vote to make Abel CEO by year-end.

— John Melloy

Last week's earnings calls not giving much new info on tariffs, RBC says

Investors came into this earnings season looking for clues on how companies plan to adjust to higher U.S. tariffs and guidance on how it would impact them. RBC's Lori Calvasina doesn't think much new information was provided during last week's deluge.

"On tariffs, we didn't learn too much in the way of new information after the prior week's avalanche of Industrials earnings," wrote the firm's head of U.S. equity strategy. "With a heavier dose of Tech companies taking the spotlight from the Industrials sector, the tariff discussions overall seemed a bit less front and center as well. Positive comments on tariffs tended to emphasize mitigation strategies, footprint adjustments either in the future or the past, pricing, USMCA compliance, and an ability to manage through."

"More negative comments tended to center on fluidity of the policy backdrop, heightened uncertainty, and a difficulty in knowing where the policy will settle. We don't have a great feel for the exact contours at the moment, but have been paying close attention to discussions of the timing of impacts for when mitigation strategies go into effect or stop having an impact," Calvasina added.

More than 160 S&P 500 companies reported earnings last week, including megacaps Apple and Amazon.

— Fred Imbert

U.S. crude oil falls more than 4% after OPEC+ agrees to surge production again

U.S. fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.

was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.

The eight producers in the group, led by Saudi Arabia, agreed on Saturday to by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to by the same amount.

— Spencer Kimball

Stock futures open little changed

U.S. stock futures were flat Sunday night.

Futures tied to the S&P 500 fell 0.2%. Dow Jones Industrial Average futures and and Nasdaq-100 futures ticked down 0.2% each.

— Hakyung Kim