Wall Street kicks off a week full of potential flashpoints with a whisper

U.S. stock indexes drifted through a quiet 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.

U.S. stock indexes drifted through a quiet 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 of the trade deal are still to be worked out, and Wall Street is heading into a week full of potential flashpoints that could shake markets.

The S&P 500 was nearly flat and edged up by less than 0.1% to set an all-time high for a sixth straight day. The Dow Jones Industrial Average dipped 64 points, or 0.1%, while the Nasdaq composite added 0.3% to its own record.

Tesla rose 3% 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%.

Other companies in the chip and artificial-intelligence industries were strong, continuing their run from last week after Alphabet said it was increasing its spending on AI chips and other investments to $85 billion this year. Chip company Advanced Micro Devices rose 4.3%, and server-maker Super Micro Computer climbed 10.2%.

But an 8.3% drop for Revvity helped to keep the market in check. The company in the life sciences and diagnostics businesses reported a stronger profit for the latest quarter than Wall Street expected, but its forecast for full year profit disappointed analysts.