US stocks closed with mixed results on Monday as markets braced for a pivotal week of earnings reports led by major technology firms. The Dow Jones Industrial Average dipped 0.04% to 44,323.07, while the S&P 500 and Nasdaq Composite edged higher by 0.14% and 0.38%, respectively.
Communication services stocks surged 1.9%, driven by optimism around upcoming tech earnings, while energy and healthcare sectors lagged. Investors scrutinized remarks from US Commerce Secretary Howard Lutnick, who reaffirmed an August 1 deadline for new tariffs, and Treasury Secretary Scott Bessent, who stressed prioritizing deal quality over speed.
Analysts remain cautiously optimistic. "With earnings expectations so low, results may surprise to the upside," said CFRA Research’s Sam Stovall. Over 85% of S&P 500 companies that have reported so far exceeded forecasts, per FactSet data.
Verizon Communications jumped 4% after beating Q2 estimates, while Cleveland-Cliffs bolstered sentiment with strong earnings. Tech giants like Alphabet (+2.8%) and Amazon (+1%) gained ahead of their midweek reports, though Tesla and Nvidia saw slight declines.
As markets await results from Apple, Microsoft, and Tesla, all eyes remain on whether Big Tech can sustain its rally and drive broader market momentum.
