The Dow Jones index dipped on the stock market today. President Trump spoke on tariffs. Tesla popped after Elon Musk touted an AI deal.

US stock futures are trading higher on Monday as investors gear up for a crucial week packed with market-moving events. The Federal Reserve’s policy meeting, a fresh batch of corporate earnings, and the August 1 deadline set by President Donald Trump for trade negotiations are all on the radar.

S&P 500 ( ES=F ), Nasdaq 100 ( NQ=F ), and Dow Jones Industrial Average futures ( YM=F) all hovered around the baseline, reflecting a cautious tone after last week’s record-setting rally in growth names. The Nasdaq advanced 1.5% last week, while the S&P 500 added 0.6%. The Dow lagged, finishing slightly negative.

The Dow Jones index fell Monday despite the U.S.-European Union trade deal. President Trump spoke on tariffs. Nvidia stock rallied to a new high.

The S&P 500 is on track for another record, but market breadth is terrible. Only 171 stocks in the index are rising with the index up 0.1%. Top performers include Super Micro Computer, Nike, Advanced Micro Devices,