NEW YORK (AP) — U.S. stocks drifted to a mixed finish on Monday, ahead of potential flashpoints this week that could bring more sharp swings for financial markets.
The S&P 500 inched up by 0.1% to extend its winning streak to a fifth day. The Dow Jones Industrial Average added 114 points, or 0.3%, and the Nasdaq composite slipped 0.1%.
The relative lull in trading offered a respite from the sharp, historic swings that have rocked markets for weeks, as hopes rose and fell that President Donald Trump may back down on his trade war. Many investors believe Trump’s tariffs could cause a recession if left unaltered. Coming into Monday, the S&P 500 had roughly halved its drop that had taken it nearly 20% below its record set earlier this year.
Mixed trading for some influential tech stocks ahead of their earnings reports this week pulled the S&P 500 back and forth between modest gains and losses for much of Monday.
Amazon fell 0.7%, Microsoft dipped 0.2%, Meta Platforms added 0.4% and Apple rose 0.4%. All are on the schedule to report their latest result this week, and they’re some of Wall Street’s most influential companies because they’ve grown to become some of the biggest in terms of size, by far. That gives their movements extra weight on the S&P 500 and other indexes.
Outside of Big Tech, executives from Caterpillar, Exxon Mobil and McDonald’s may also offer clues this week about how they’re seeing economic conditions play out. Several companies across industries have already slashed their estimates for upcoming profit or pulled their forecasts entirely because of uncertainty about what will happen with Trump’s tariffs.
“We heard more plans to mitigate tariff impacts than in prior months and than during 2018” from U.S. companies, including pre-ordering, shifting production and increasing prices for their own products, according to Bank of America strategist Savita Subramanian.
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