NEW YORK, New York - U.S. stocks were volatile Monday as the focus remained on tariffs, and the perceived lack of trade deals despite President Donald Trump promising deals this week, a repeat of promises of the past two weeks. 

Despite the trade war disruption stocks managed to draw back form heavier losses early in the day Monday to finisj modestly in the red. ″We believe the medium-term outlook is positive for U.S. stocks, supported by likely tariff moderation, Federal Reserve rate cuts, and structural growth themes," UBS head of U.S. equities David Lefkowitz wrote in a note to clients on Monday.

"We expect the S&P 500 to reach 5,800 by year-end in our base case," he said.

The Standard and Poor's 500 (^GSPC) fell 0.64 percent, closing at 5,650.38, a drop of 36.29 points. Trading volume reached 2.591 billion shares as investors took profits following recent gains.

The Dow Jones Industrial Average (^DJI) dipped 0.24 percent, losing 98.60 points to settle at 41,218.83, with 402.729 million shares traded. The blue-chip index saw modest declines, with losses spread across multiple sectors.

Tech stocks led the downturn Monday, dragging the Nasdaq Composite (^IXIC) down 0.74 percent to 17,844.24, a decline of 133.49 points. Trading volume was heavy at 6.271 billion shares, reflecting heightened activity in growth stocks.

Global Forex Markets Show Disdain for U.S. Dollar Monday as Euro, Pound, and Commodity Currencies Gain

The foreign exchange market saw mixed movements in major currency pairs during the latest trading session Monday, with the euro, British pound, and commodity-linked currencies posting gains against the US dollar, while the yen and Swiss franc weakened.

The EUR/USD pair rose to 1.1317, climbing 0.17 percent as the euro found support amid shifting market sentiment. Meanwhile, the GBP/USD pair advanced 0.18 percent to 1.3292, reflecting renewed strength in the British pound.

Commodity currencies also performed well, with the AUD/USD pair surging 0.39 percent to 0.6469, while the NZD/USD pair jumped 0.46 percent to 0.5967, buoyed by risk-on sentiment.

The U.S. dollar also fell against the Japanese yen, with the USD/JPY pair dropping 0.78 percent to 143.82 as the yen regained some ground. The USD/CHF pair also declined, falling 0.38 percent to 0.8227, signaling a stronger Swiss franc.

In contrast, the USD/CAD pair edged up slightly by 0.02 percent to 1.3814, as the Canadian dollar remained steady amid fluctuating oil prices.

Global Markets Wrap: Mixed Performance Monday as FTSE 100 and DAX Surge, While Asian Indices Show Divergence

Global stock markets delivered a mixed performance on Monday, with European benchmarks leading gains while some Asian and Pacific indices faced downward pressure.

Canada

In Canada, theS&P/TSX Composite (^GSPTSE)slipped0.31 percent, shedding77.99 pointsto close at24,953.52, with206.321 million sharesexchanged. The index mirrored the cautious sentiment in U.S. markets.

UK and Europe

The FTSE 100 (^FTSE) climbed 1.17 percent, closing at 8,596.35, up 99.55 points, buoyed by strong performances in financial and energy sectors.

Germany's DAX (^GDAXI) also posted solid gains, rising 1.12 percent to 23,344.54, a jump of 257.89 points.

However, France's CAC 40 (^FCHI) bucked the trend, slipping 0.55 percent to 7,727.93, while the broader EURO STOXX 50 (^STOXX50E) edged down 0.04 percent to 5,283.05.

Belgium's BEL 20 (^BFX) advanced 0.53 percent to 4,517.20, but the Euronext 100 (^N100) dipped 0.23 percent to 1,544.92.

Asia-Pacific & Southeast Asia Markets

In Asia, Hong Kong's Hang Seng (^HSI) surged 1.74 percent to 22,504.68, while Singapore's STI Index (^STI) inched up 0.21 percent to 3,853.07.

Australia's S&P/ASX 200 (^AXJO) and the All Ordinaries (^AORD) both fell sharply, losing 0.97 percent to close at 8,157.80 and 8,374.00, respectively.

India's Sensex (^BSESN) rose 0.37 percent to 80,796.84, while Indonesia's IDX Composite (^JKSE) gained 0.24 percent to 6,831.95.

Malaysia's FTSE Bursa Malaysia KLCI (^KLSE) dipped 0.19 percent, and New Zealand's NZX 50 (^NZ50) climbed 0.76 percent to 12,421.25.

South Korea's KOSPI (^KS11) edged up 0.12 percent, but Taiwan's TWSE (^TWII) tumbled 1.23 percent to 20,532.99.

Japan's Nikkei 225 (^N225) continued its upward momentum, rising 1.04 percent to 36,830.69, while China's SSE Composite (000001.SS) slipped 0.23 percent to 3,279.03.

Middle East & Africa

Israel's TA-125 (^TA125.TA) gained 1.04 percent, but Egypt's EGX 30 (^CASE30) fell 0.43 percent.

South Africa's Top 40 USD Net TRI (^JN0U.JO) rose 0.17 percent to 4,964.39.

Last week's stock market action:

Friday 2 May 2025 | Positive jobs report lights up Wall Street | Big News Network 

Thursday 1 May 2025 | Tech stocks drive rally in U.S. stock markets | Big News Network 

Wednesday 30 April 2025 | U.S. economy contracts, S&P 500 inches up 8 points | Big News Network 

Tuesday 29 April 2025 | Single trade deal propels Wall Street higher, Dow Jones adds 300 points | Big News Network 

Monday 28 April 2025 | U.S. stock markets open week with mixed performances | Big News Network