Stocks climbed to record highs Monday as investors prepared for Tesla's quarterly earnings report and the results from other mega-cap tech companies.
|I:DJI||DOW JONES AVERAGES||35368.47||-543.34||-1.51%|
|I:COMP||NASDAQ COMPOSITE INDEX||14506.896644||-386.86||-2.60%|
The benchmark S&P 500 gained 0.18% and the Nasdaq Composite rallied 0.87% as both indexes finished at all-time highs. The Dow Jones Industrial Average, meanwhile, slipped 61 points, or 0.18%.
While the S&P finished at record highs as early as last week, it was the Nasdaq's first record since February.
The major averages received a lift after the Census Bureau said durable goods orders rose 0.5% in March, rebounding from a decline in the prior month. Excluding transportation, orders increased 1.6%, in line with forecasts.
|FB||META PLATFORMS INC.||318.15||-13.75||-4.14%|
In stocks, tech giants Apple Inc., Amazon Inc., Facebook Inc. Alphabet Inc. and Microsoft Corp. will all release their quarterly results this week. But first, Tesla was expected to report a record quarterly profit after Monday's closing bell.
A pause on Johnson & Johnson’s COVID-19 vaccine was lifted late Friday after U.S. regulators concluded the benefits outweigh the risks. The vaccine was paused earlier this month after six women out of more than 7 million who received the inoculation developed blot clots.
Elsewhere, Moderna Inc.’s COVID-19 vaccine will be reviewed by World Health Organization experts on April 30 for possible emergency-use listing, Reuters reported, citing a WHO official.
|JNJ||JOHNSON & JOHNSON||167.10||-0.74||-0.44%|
Good news on COVID-19 helped lift travel-related names including American Airlines Group Inc., Carnival Corp. and Hilton Hotels Corp.
|AAL||AMERICAN AIRLINES GROUP INC.||17.90||-0.59||-3.19%|
|HLT||HILTON WORLDWIDE HOLDINGS INC.||144.52||-3.46||-2.34%|
In commodities, West Texas Intermediate crude oil lost 23 cents to $61.91 per barrel and gold edged up $2.20 to $1,779.20 an ounce.
Overseas markets were mixed.
European markets reversed early losses with Britain’s FTSE 100 rallying 0.35%, France’s CAC 40 rising 0.28% and Germany's DAX 30 ticking up 0.11%.
In Asia, China’s Shanghai Composite fell 0.95%, Hong Kong’s Hang Seng index slid 0.43% and Japan’s Nikkei 225 advanced 0.36%.