The S&P 500 closed above the 6,300 mark for the first time on Monday, as investors geared up for a wave of major second-quarter earnings reports set to arrive this week. Several of Wall Street’s biggest names, including tech heavyweights, are scheduled to release their results.
By the 4:00 p.m. ET market close, the S&P 500 had edged up 0.2% to finish at 6,308.46. The tech-focused Nasdaq Composite gained 0.4%, while the Dow Jones Industrial Average slipped 19 points, or 0.04%.
Stocks remained near record levels despite some caution heading into the week. On Friday, markets stalled amid reports that President Donald Trump was pushing for new tariffs of 15% to 20% on European Union imports, set to go into effect on August 1.
Big Tech Takes the Spotlight
All eyes this week are on major tech earnings, particularly from Alphabet (NASDAQ: GOOGL) and Tesla (NASDAQ: TSLA), both of which report on Wednesday. As part of the “Magnificent Seven” group of mega-cap tech stocks, their results could provide key direction for broader market sentiment.
Last week, strong earnings from several major banks helped support investor confidence, even as concerns about Trump’s proposed trade measures introduced new economic uncertainties. Attention is now turning to how these tariffs might affect corporate outlooks for the rest of the year.
Earnings Highlights: Verizon, Domino’s
On Monday, Verizon Communications (NYSE: VZ) reported results that included a boost to the lower end of its full-year earnings forecast, driven by solid demand for its premium wireless plans.
Meanwhile, Domino’s Pizza (NASDAQ: DPZ) missed Wall Street’s expectations on earnings, but stronger-than-expected sales during the quarter helped lift the stock. The company remains the largest pizza chain in the world by sales.
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