US equities were mostly flat in afternoon trading as investors weighed a new US-EU trade agreement and prepared for a data-heavy, earnings-packed week. The S&P 500 hovered near record highs, the Nasdaq rose 0.2%, and the Dow edged slightly lower. President Trump announced a tariff deal with the EU setting a 15% baseline, down from the previously threatened 30%, while hopes for a US-China trade truce also gained traction. Still, market enthusiasm remained subdued amid lingering uncertainty over the broader impact of tariffs. Energy led sector gains, with Exxon Mobil up 0.9% and Chevron rising 0.6%. In contrast, materials underperformed, logging the biggest sector decline. Investors now turn their attention to earnings from major tech names - Meta, Microsoft, Apple, and Amazon - as well as Wednesday’s Federal Reserve meeting, where rates are expected to remain unchanged but guidance on a possible September cut will be closely watched.