U.S. stocks ended slightly higher on Monday after a mostly listless day of trading. The Nasdaq composite managed to eke out its second straight record high.
Investors had their eye on company earnings news after weeks of fretting over Greece’s debt crisis and a steep slide in China’s stock market.
“We’re focused on earnings, and they’re coming in better,” said Quincy Krosby, a market strategist at Prudential Financial. “Even though the estimates have been lowered, the companies beating are beating very nicely.”
Technology stocks rose more than the rest of the market. Gold slumped to its lowest level in five years, pulling mining stocks lower. A nearly three-week slump in oil prices deepened.
The Dow Jones industrial average gained 13.96 points, or 0.1 percent, to 18,100.41. The Standard & Poor’s 500 index added 1.64 points, or 0.1 percent, to 2,128.28. The Nasdaq rose 8.72, or 0.2 percent, to 5,218.86, eclipsing its previous record set on Friday.
The three major indexes are up for the year. The S&P is up 3.4 percent, while the Dow is up 1.6 percent. The Nasdaq has gained 10.2 percent this year.
Stocks briefly wavered in early trading Monday, but mostly remained on course for a gain as traders reviewed the latest earnings reports.
Greenwood Village-based Newmont Mining slid 12.2 percent as gold prices slumped. The stock lost $2.53 to $18.16.
Toymaker Hasbro and the oil and gas company Halliburton rose after reporting results Monday that were better than analysts were expecting.
PayPal surged 5.4 percent on its first day of trading as a stand-alone company to close at $40.47.
