S&P 500, Nasdaq Hit New Highs as Stocks Rise to Kick Off Heavy Week of Earnings

Stocks moved higher Monday morning at the start of a heavy week of corporate earnings reports, as investors keep close tabs on developments related to trade. 

The S&P 500 (SPX) and tech-heavy Nasdaq Composite (IXIC) were recently up 0.4% and 0.7%, respectively, trading at new all-time highs, while the Dow Jones Industrial Average (DJI) added 0.2%. Stocks are coming off a winning week—the Nasdaq has closed at a record high for five straight days—amid optimism about generally strong quarterly results from major companies and data that illustrated the continued strength of the economy despite uncertainty about tariffs.

Market participants are awaiting news on trade deals ahead of an August 1 deadline for the U.S. to impose hefty tariffs on leading trade partners. Commerce Secretary Howard Lutnick, in an interview Sunday on CBS News, expressed confidence that the White House will get deals done, including one with the European Union. President Donald Trump in recent weeks sent letters to more than 20 countries informing them of the tariffs that will be imposed, with rates ranging from 20% to 50%.

On the earnings front this morning, shares of Verizon (VZ) were up more than 2% to pace Dow gainers after the telecommunications giant posted strong results and lifted its outlook, while Domino’s (DPZ) also rose more than 2% after the pizza chain reported better-than-expected same-store sales growth.

Shares of the world’s largest technology companies were mostly higher this morning, Apple (AAPL), Alphabet (GOOG) and Meta Platforms (META) each rose more than 1%. Microsoft (MSFT), Amazon (AMZN), Broadcom (AVGO) and Tesla (TSLA) also gained ground, while Nvidia (NVDA) fell slightly. Tesla and Alphabet are due to release their quarterly results after the closing bell on Wednesday.

Shares of Block (XYZ) surged more than 7% following news announced late Friday that the digital payments provider will be replacing Hess (HES) in the S&P 500 starting Wednesday.

Bitcoin was at $118,800, up slightly from where it was trading late Friday. The digital currency late last week surged above $120,000, not far from its all-time high of around $123,000, as Congress approved a landmark legislation that aims to bring cryptocurrencies more into the financial mainstream.

The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, notably mortgages, was at 4.37% recently, down from 4.43% at Friday’s close. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, is down 0.4% to 98.09.

Gold futures were up 1.1% at $3,395 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, slipped 0.5% to $67 per barrel.