On Monday, Eastern Time in the United States, the three major indexes showed mixed trends. The S&P 500 Index edged up, and the Nasdaq Index rose, both hitting new all-time highs again. The Dow Jones Industrial Average declined slightly.

As of the close, the Dow Jones Industrial Average fell 0.14% to 44,837.56 points; the S&P 500 Index rose 0.02% to 6,389.77 points; and the Nasdaq Composite Index rose 0.33% to 21,178.58 points. The S&P 500 Index hit a new high for the sixth consecutive trading day, and the Nasdaq set a record for the 14th time this month, making July the month with the most record highs for the index since December 1999.

US President Donald Trump announced a trade deal with the European Union on Sunday, under which the US will impose a 15% baseline tariff on European goods. The deal has sparked a backlash in Europe, with critics calling it a “humiliating defeat,” and it is expected to further drag down the already weak European economic growth. Although the two major stock indexes hit new highs again, the intraday maximum increase of the S&P 500 Index was only 0.2%, indicating that investors’ enthusiasm for the US-EU deal is limited.

“As the market continues to hit new highs and volatility drops to its lowest level since February, the two major challenges facing investors are complacency and the urge to chase high prices,” said Daniel Skelly, managing director of Morgan Stanley Wealth Management. “Despite the recent positive progress in trade, the full impact of tariffs remains unknown.”