EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher import duties on both sides that might have sent shock waves through economies around the globe.

Trump's trade deals with the EU and Japan pave the way for the stock market to end with it's third straight annual gain of more than 20%, Oppenheimer said.

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.