Major United States benchmark averages finished mixed on Monday (Tuesday AEST), with the S&P 500 and Nasdaq closing at fresh record highs, buoyed by upbeat earnings reports and investor optimism ahead of key big tech results, even as trade concerns lingered.
The S&P 500 gained 8.8 points, or 0.1%, to end the session at a record 6,305.6, while the Nasdaq Composite climbed 78.5 points, or 0.4%, to 20,974.2, also a new closing high.
The Dow Jones Industrial Average, however, slipped 19.1 points, or 0.04%, to 44,323.1, finishing marginally lower.
Markets were buoyed by fresh signs that the second-quarter earnings season was off to a robust start. Verizon jumped 4% after the telecom giant posted better-than-expected results, adding to growing confidence that the broader corporate earnings picture remains healthy.
Alphabet stood out among the tech majors, rising 2.7% ahead of its scheduled results on Wednesday. Meta Platforms lifted 1.2% and Apple gained 0.6%.
Investor sentiment remains resilient despite fresh trade rhetoric from Washington. U.S. Commerce Secretary Howard Lutnick on Sunday reaffirmed a firm 1 August deadline for the enforcement of tariffs, describing it as a "hard deadline" for countries to comply.
While geopolitical concerns and policy risks remain in the background, the focus has squarely shifted to earnings, particularly from the largest technology firms, which could determine the market’s near-term direction.
With Alphabet and Tesla reporting mid-week, followed by other megacap tech names, the coming sessions may provide further fuel for the rally.
On the bond market, 10-year and 2-year rates were down 0.9% and 0.2% to 4.380% and 3.861%, respectively.
