Investors await trade deal news, Trump ushers in 100 Days: Live Updates

Stocks closed mostly higher on Monday as investors eye corporate earnings and trade talks.

The Dow Jones Industrial Average climbed 114.09 points, or 0.28%, while the S&P 500 was up 0.06% and the Nasdaq finished down 0.1%.

Megacap tech stocks weighed on the Nasdaq on Monday as investors await a week full of Big Tech earnings.

Microsoft and Meta are expected to report quarterly results on Wednesday after the bell, while Amazon and Apple are slated to report their earnings after the close on Thursday.

FOX Business Network's Charlie Gasparino reports:

"The hold up in the Japan tariff deal is the the level of commitment to buy oil from the Alaska pipeline; @howardlutnick remains a key player in tariff negotiations and recently argued to a key lawmaker that tariffs won't lead to inflation; GOP lawmakers now voicing real concern to my Wall Street sources about tariff related inflation and an economic slowdown as impacts starting to be felt by Middle America; Wall Street CEOs say the next 6-8 weeks will be pivotal in determining how big an impact tariffs will have on economy. Stories developing...

Two Administration sources familiar with the talks are telling me President Trump is working on larger trade deals with countries and that is why it’s taking longer to hear announcements. The sources say these deals are not just about lowering tariffs but greater deals, according to FOX Business' Edward Lawrence.

IBM, one of the nation's largest technology employers, is planning to invest $150 billion in the U.S. "over the next five years to fuel the economy and to accelerate its role as the global leader in computing."

"Technology doesn’t just build the future — it defines it," Arvind Krishna, IBM chairman, president and chief executive officer, said in a statement. "We have been focused on American jobs and manufacturing since our founding 114 years ago, and with this investment and manufacturing commitment we are ensuring that IBM remains the epicenter of the world’s most advanced computing and AI capabilities."

IBM says it "will continue to design, build and assemble quantum computers in America."

This is an excerpt of a story by FOX Business' Pilar Arias

American shoppers may shift to buying used clothes as President Donald Trump’s hefty tariffs on China make some clothing imports more expensive. 

Barron’s senior writer Megan Leonhardt said during an appearance on Fox Business’ “Barron’s Roundtable” that many Americans may soon embrace the thrifting trend popular among Gen Z. 

“Much of our apparel – your sneakers, your clothing, all of those good things – lots come from China, lots from Asia, and unfortunately those could get very expensive,” Leonhardt said. 

“We are going to see a number of folks shifting into that second-hand market,” Leonhardt said. 

Trump’s sweeping 145% tariffs on China have rattled global stock markets and upended supply chains.

Canadian Prime Minister Mark Carney on Sunday made a final pitch to citizens before Canada’s election, accusing President Donald Trump of betrayal and vowing to continue to fight the U.S. in a trade war that causes “maximum damage.” 

"It is true that [U.S.] President [Donald] Trump has betrayed Canada,” Carney said. “He's betrayed Canada and he has ruptured the global economy. Our old relationship with the United States is over, unfortunately. And America's leadership, America's leadership of the global economy is over. And this, this is a tragedy. This is still in play. But it is a tragedy. It is also our new reality. We have to recognize it." 

Carney accused the U.S. of “trying to break” Canada so “they can own us,” Carney said. 

"We will fight,” he said. “We will fight Trump's counter-tariffs. In fact, we are already we're fighting them with our own counter-tariffs that cause maximum damage in the United States with minimum impact here in Canada." 

Trump has discussed acquiring Canada, along with Greenland and Panama, for months — and has regularly referred to Canada as the 51st U.S. state. 

Trump said in an interview with TIME magazine published Friday that he is serious about these proposals.

President Donald Trump and Chinese President Xi Jinping have not spoken recently, nor were Beijing and Washington currently in negotiations over tariffs, China’s foreign ministry said Monday, contrary to Trump’s claim in an interview last week. 

Guo Jiakun, a spokesperson for China’s Foreign Ministry, tamped down speculation that the world’s two largest economies were engaged in trade talks during a regular news conference. 

"As far as I know, the two heads of state have not called each other recently," Guo said. "I would like to reiterate that China and the U.S. have not conducted consultations or negotiations on the tariffs issue." 

Guo added that if the U.S. is serious about negotiating, it should “stop threatening and blackmailing (China)." 

Trump said in an interview published in TIME on Friday that Xi personally called him to discuss trade matters.  

"He's called. And I don't think that's a sign of weakness on his behalf," Trump is quoted as saying, without providing specifics about the timing or content of the call. 

Trump also asserted in the interview that the U.S. was meeting with China for trade talks. Beijing last week repeatedly denied such talks were taking place. 

Trump’s tariffs on China, which have rattled global stock markets and upended supply chains, have ballooned to 145% while China has responded by slapping a 125% tariff on its U.S. imports.  

Fox News Digital’s Michael Dorgan, along with Reuters, contributed to this report.

Amazon founder Jeff Bezos and Tesla CEO Elon Musk are both trying to win the space wars, with their respective companies; Blue Origin and SpaceX....

They may also soon have a new lane to compete in: electric trucks. A Bezos-backed start-up could give Musk's CyberTruck a run for its money.

On the campaign train, President Donald Trump promised lower taxes and an extension of his 2017 tax cuts...

Over the weekend, he reiterated how the plan may work with tariffs.

"When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year. Also, massive numbers of jobs are already being created, with new plants and factories currently being built or planned. It will be a BONANZA FOR AMERICA!!! THE EXTERNAL REVENUE SERVICE IS HAPPENING!!!" he wrote on Truth Social.