US stocks were mixed Monday and the S&P 500 was on the verge of snapping a five-day win streak as investors digested the announcement of a trade deal between Washington and Brussels. Stocks fluctuated between gains and losses Monday afternoon after President Donald Trump and President of the European Commission Ursula von der Leyen on Sunday announced a framework for a US-EU trade deal.

European stocks rose to a four-month high on Monday after the US and EU reached a tariff deal that looks set to avert a full-blown trade war. The broad Stoxx Europe 600 index was up 1 per cent in early trading, while Germany’s Dax gained 0.9 per cent and France’s Cac 40 climbed 1.2 per cent.

U.S. stocks slipped on Monday after the S&P 500 and the Nasdaq edged up to fresh intraday records, as investors assessed the U.S.-EU trade pact and braced for a week of major market catalysts.