Retail ETFs surged on news of a US-EU trade deal with 15% tariffs. The agreement was reached before the Aug. 1 deadline set by the White House. The deal includes a “global tariff” of 15%-20%. The SPDR S&P Retail ETF rose slightly, while the ProShares Online Retail ETF jumped nearly 1%. The EU is the largest trading partner of the US, with imports in various categories. Investors are now focused on earnings and the upcoming Fed decision. Tech giants like Meta Platforms, Microsoft, Apple, and Amazon are set to report earnings this week, driving interest in the tech sector and AI investments. Bond yields rose ahead of the Fed meeting, sending Treasury bond prices lower.

Read more at Yahoo Finance: Retail ETFs Pop on EU Deal; MAGS, QQQ Rise Ahead of Earnings