US stocks were mixed Monday and the S&P 500 eked out a record high for the sixth day in a row as investors digested the announcement of a trade deal between Washington and Brussels.

"We're in much better shape because it's now clear that if there's gonna be a real trade war with anyone, it would just be with China," Secretary Ross tells Fortune.

The dollar gained against major currencies including the euro and yen on Monday with sentiment lifted by a trade agreement between the U.S. and the EU, which brings market certainty and averts a global trade war.

Gold prices edged lower on Monday in choppy trading after the dollar gained following a trade agreement between the U.S. and the UK. The EU agreed to a baseline tariff of 15% for its exports to the U.

The U.S. and European Union agreed on trade terms that include a 15% across-the-board rate on EU products as well as hundreds of billions of dollars of investments in American industry. President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to iron out the agreement.