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CNBC’s Jim Cramer examined Monday’s market action and said he thinks the U.S.‘s major trade deals failed to move stocks because investors’ focus is elsewhere this week.

“Right now, we’re presuming these tariffs don’t matter,” he said. “What matters is earnings, unemployment, the Fed meeting and — you know what — dead last, tariffs.”

The S&P 500

finished up 0.02%, while the Dow Jones Industrial Average