US indexes closed Monday at all-time highs, as optimism over a potential US-China trade framework, a strong start to earnings season and a burst of big M&A lifted sentiment, even as skeptics flag signs of froth. This week, investors will be closely watching Big Tech earnings and a widely anticipated Federal Reserve rate cut.

Japanese Prime Minister Sanae Takaichi and President Donald Trump have signed an agreement to secure the supply of rare earths and critical minerals, responding to China's tightened export controls. The deal aims to create resilient supply chains through coordinated economic policy and investment, with Takaichi expressing a desire to usher in a "golden age" of US-Japan relations and Trump praising Japanese orders for US military hardware.

Record trading in single-stock options and leveraged ETFs has amplified volatility in major U.S. equities, with individual companies now seeing daily moves of more than $100 billion in market value. Analysts say retail investors account for about 60% of single-stock options trading, while leveraged ETFs and zero-day options are magnifying price swings around Big Tech earnings.

Goldman Sachs CEO David Solomon expressed confidence in the stability of the credit markets, stating that recent high-profile firm failures do not indicate a systemic risk. He emphasized that issues such as the collapse of First Brands Group and Tricolor Holdings are isolated incidents and do not reflect broader credit market instability. "I don't see anything in the context of a handful of bad credit situations that's leading me to say we have a systemic issue around the corner," Solomon said.

The US dollar weakened as traders positioned themselves ahead of several major central bank meetings and the upcoming summit between US President Donald Trump and China's President Xi Jinping. The dollar index slipped 0.19%, extending losses from the previous session, while the euro and sterling both strengthened.

UBS has applied for a national bank charter to expand its US offerings, aiming to enhance services for wealth management clients by including payments, checking and savings accounts. The move is part of UBS' strategy to improve its US wealth management unit, which generates significant revenue but faces high expenses.

Prediction market Kalshi filed suit in New York federal court after receiving a cease-and-desist order from the state gaming commission, arguing the Commodity Futures Trading Commission has exclusive authority over its federally regulated derivatives exchange. The company, which has launched similar legal challenges in several states, seeks an injunction to block what it calls unlawful state interference in federally overseen event contracts.

Jorge Sanchez, a construction worker on the $16.1 billion Gateway tunnel project in New York City, recently died after falling about 50 feet while working. Sanchez had been working excessive hours, including a 35-hour shift, to help managers catch up on project delays, according to his co-worker Nery Rodas. The Gateway Development Commission has referred questions to Amtrak and Related Cos., which own the property.

Leaders can inspire their employees by asking empathetic questions that address emotions, writes Ravi Rajani, a communication expert. "Your ability to truly connect with your team on a deeper level, understand who they are and uncover their core motivations is the difference between a good leader and an extraordinary one," Rajani writes.