S&P, Nasdaq rally to records ahead of Tesla earnings

Nasdaq books first record-high close since February

Stocks climbed to record highs Monday as investors prepared for Tesla's quarterly earnings report and the results from other mega-cap tech companies. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35368.47 -543.34 -1.51%
SP500 S&P 500 4577.11 -85.74 -1.84%
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. 

Ticker Security Last Change Change %
AAPL APPLE INC. 169.80 -3.27 -1.89%
AMZN AMAZON.COM INC. 3,178.35 -64.41 -1.99%
FB META PLATFORMS INC. 318.15 -13.75 -4.14%
GOOGL ALPHABET INC. 2,719.96 -69.65 -2.50%
MSFT MICROSOFT CORP. 302.65 -7.55 -2.43%

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.

Ticker Security Last Change Change %
TSLA TESLA INC. 1,030.51 -19.10 -1.82%

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. 

Ticker Security Last Change Change %
JNJ JOHNSON & JOHNSON 167.10 -0.74 -0.44%
MRNA MODERNA INC. 186.61 -18.12 -8.85%

Good news on COVID-19 helped lift travel-related names including American Airlines Group Inc., Carnival Corp. and Hilton Hotels Corp. 

Ticker Security Last Change Change %
AAL AMERICAN AIRLINES GROUP INC. 17.90 -0.59 -3.19%
CCL CARNIVAL CORP. 21.98 -0.97 -4.23%
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.  

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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%.