U.S. equity futures rose but were off their highs Monday as investors showed limited enthusiasm over a trade deal announced between the U.S. and the European Union. Futures tied to the Dow Jones Industrial Average climbed just 46 points, or 0.1%. S&P 500 futures were 0.2% higher and Nasdaq 100 futures added 0.4%. The moves came after President Donald Trump announced Sunday that the U.S. has reached an agreement with the European Union to lower tariffs to 15%. The president had previously threatened 30% tariffs on most imported goods from the U.S.’s largest trading partner. “While sentiment is increasingly bullish, there’s some hesitation about chasing stocks at record highs in the immediate term off something that was widely expected ahead of what is going to be one of the busiest weeks of the entire year,” Adam Crisafulli of Vital Knowledge said in a note. Wall Street otherwise prepared for an especially busy week that will bring earnings from several major tech companies, a key Federal Reserve meeting, Trump’s Aug. 1 tariff deadline and important inflation data. The market is gearing up for the busiest week of earnings season. More than 150 companies in the S&P 500 are due to post their quarterly results, including “Magnificent Seven” names Meta Platforms and Microsoft on Wednesday, followed by Amazon and Apple on Thursday. Investors will be listening for companies’ comments on AI spending for direction on whether big investments in hyperscalers this year are justified. This week, the Fed will also hold its two-day policy meeting, concluding on Wednesday. Although the central bank is expected to keep its key short-term interest rate at its current target range of 4.25%-4.5%, investors will be looking for clues about whether a rate cut could be on the table at the September meeting. Though there is little on the economic docket Monday, the rest of the week holds a variety of pivotal releases. The first glance at second-quarter economic growth will happen Wednesday when the Commerce Department releases its estimate on real gross domestic product growth. Economists surveyed by Dow Jones expect the U.S. economy grew at a 2.3% annualized pace for the April-through-June period, following a 0.5% decline for the first quarter. Tariffs and their effect on inflation will remain in focus on Thursday as traders get the June personal consumption expenditures price index, the Fed’s preferred measure of inflation. The report is expected to show inflation rising to core inflation, which excludes food and energy, holding steady at 2.7% and headline inflation rising to 2.5%, according to Dow Jones consensus estimates. The monthly gauges are both expected to show 0.3% increases. Investors will also get a batch of jobs-related data this week, including the Job Openings and Labor Turnover Survey, or JOLTS, on Tuesday, ADP’s private payrolls report on Wednesday, initial jobless claims Thursday and, on Friday, the critical July jobs report. The report is expected to show the economy added 102,000 jobs in July, down from 147,000 in June. The unemployment rate is expected to show a slight bump to 4.2% from 4.1%. U.S. Treasury yields were little changed on Monday as investors anticipated the Federal Reserve’s interest rate decision later this week, as well as a key inflation reading that will shed light on the effect of tariffs on the economy. The 10-year Treasury yield was up about one basis point to 4.398%. The 2-year yield was unchanged at 3.923%, while the 30-year yield also was off less than one basis point to 4.923%. Asia-Pacific markets ended the day mixed Monday. Hong Kong’s Hang Seng Index rose 0.68% to close at 25,562.13, while mainland China’s CSI 300 index increased by 0.21% to 4,135.82. Meanwhile, South Korea’s Kospi index advanced 0.42% to close at 3,209.52, while the small-cap Kosdaq declined 0.32% to 804.40. Australia’s S&P/ASX 200 benchmark increased by 0.36% to end the day at 8,697.70. Oil prices rose on Monday after the U.S. reached a trade deal with the European Union and may extend a tariff pause with China, reducing concerns that potentially higher levies would limit economic activity and impact fuel demand. Brent crude futures rose $1.70, or 2.48%, to $70.14 a barrel, while U.S. West Texas Intermediate crude was at $66.84 a barrel, up $1.68, or 2.58%. Gold prices steadied on Monday, with gains curbed by improved risk sentiment following a trade deal between the United States and the European Union, while investors looked forward to the U.S. Federal Reserve’s policy meeting later this week. Spot gold was flat at $3,335.87 per ounce, after touching its lowest level since July 17 earlier in the day. U.S. gold futures were unchanged at $3,335.30 per ounce.