All three major US stock indexes were slightly up in late-morning trading Monday as traders assessed media reports that the US and EU have reached a framework for a trade agreement.

In a US-EU trade framework deal, the US plans to levy a 15% tariff on European goods imports, less than half of certain rates that had been under discussion.

The Dallas Fed's monthly manufacturing index rebounded to a reading of 0.9 in July from minus 12.7 in June, compared with expectations for a smaller increase to a reading of minus 9.5 in survey compiled by Bloomberg.

In company news, Tesla (TSLA) has awarded an artificial intelligence semiconductor manufacturing contract worth about 22.765 trillion South Korean won ($16.5 billion) to Samsung, the South Korean company said in a Monday filing. Tesla shares were up 3.5% in recent trading.

Union Pacific (UNP) may reach an agreement early this week to acquire Norfolk Southern (NSC) in what would be the largest rail industry deal ever, Bloomberg reported Saturday, citing people familiar with the matter. The potential transaction is expected to include both cash and stock, though final terms and timing could change, the report said.

Norfolk Southern told MT Newswires it had no additional comments beyond the July 24 statement where the companies confirmed they were in "advanced" talks about a potential merger. Union Pacific did not immediately respond to MT Newswires' request for comment.

Shares of Union Pacific added 2.5% and Norfolk Southern rose 1.7% in recent Monday trading.

Revvity (RVTY) reported that its fiscal Q2 adjusted earnings slid to $1.18 per share from $1.22 while revenue rose to $720.3 million from $691.7 million a year earlier.

For fiscal 2025, Revvity now expects adjusted EPS of $4.85 to $4.95 on revenue of $2.84 billion to $2.88 billion. The company previously projected adjusted EPS of $4.90 to $5 on revenue of $2.83 billion to $2.87 billion.

Revvity shares slipped over 9% in recent trading.

Price: 327.18, Change: +11.12, Percent Change: +3.52