S&P 500 ekes out another record as investors gear up for big earnings; European stocks close slightly lower as investors watch corporate earnings, Covid cases 

The S&P 500 reached another record high on Monday ahead of a busy week of earnings reports from technology’s heaviest hitters. 

The broad equity benchmark rose 0.2% to a fresh record close of 4,422,22, extending its winning streak to five days. The Dow Jones Industrial Average gained 83.36 points, or 0.2%, to an all-time high of 35,144.91, also rising for a fifth straight day. The tech-heavy Nasdaq Composite closed slightly higher at 14,840.71, hitting a new high. 

One of the busiest weeks of earnings reports is on deck, with Tesla kicking it off after the closing bell. Last week, CEO Elon Musk said the automaker would likely start accepting bitcoin for vehicle purchases again. Shares of the electric vehicle maker rose 2.2%. 

Meanwhile, on the data front, sales of new U.S. single-family homes dropped unexpectedly in June, falling 6.6% to a seasonally adjusted annual rate of 676,000 units, the Commerce Department said on Monday. Economists polled by Dow Jones had expected new home sales to increase to 795,000 units in June. 

The pan-European Stoxx 600 provisionally ended around 0.12% lower, with healthcare stocks falling 1.3% to lead losses while mining stocks jumped over 2.7%. 

Ryanair reported a 273 million euro ($322 million) loss for the second quarter and cautioned that it may finish the fiscal year “somewhere between a small loss and breakeven” as Covid-19 restrictions linger. 

Faurecia dropped 5.7% after warning that semiconductor shortages could continue to weigh on productivity into 2022, and Philips 4% after narrowing its guidance amid a recall of its respiratory devices. 

Source: CNBC, Investing.com