US stocks rose Monday and the Dow was poised to hit its first record high of the year as investors welcomed the announcement of a trade deal between Washington and Brussels.

US stocks wavered on Monday after the US and European Union struck a trade pact, kicking off a packed week of Big Tech earnings, a Federal Reserve meeting, inflation data, the July jobs report, and President Trump's Aug.

The S&P 500 and the Nasdaq opened at record highs, while the Dow was on the cusp of that as optimism from a U.S.-EU trade pact set the stage for a week packed with megacap earnings, a Fed meeting, and an approaching U.