Investing.com – The Dow closed at a record high for the ninth-straight session on Monday, led by an uptick in shares of Apple, as risk appetite among investors continued unabated ahead of a slew of department store earnings due later week.
The Dow Jones Industrial Average closed higher at 22,118. The S&P 500 closed 0.16% higher while the Nasdaq Composite closed at 6383.77, up 0.51%.
Investors continued to pile into shares of Apple following the tech giant’s better-than-expected earnings report last week, pushing the three main U.S. indexes to close in positive for the session. The Dow notched its tenth-straight record close.
A soft batch of corporate earnings, however, are expected during the latter part of the week, when Macy’s kicks off the department store earnings on Thursday, followed by earnings from Nordstrom (NYSE:JWN) while JC Penney is slated to report earnings on Friday.
During the first quarter, Macy's (NYSE:M), Kohl's and other big department store chains posted disappointing earnings which saw Macy’s stock price tumble more than 14%.
The slowdown expected in earnings from department stores, is unlikely to take the shine off a solid quarter of earnings, after data showed second-quarter earnings have grown 10.1% as of Friday.
Meanwhile, geopolitical tensions resurfaced, following fresh sanctions imposed on North Korea for its nuclear and missles programmes, with President Trump suggesting in tweet the sanctions would have “big financial impact” on the Kim jong-un led nation.
‘Bulls and Bears’ on Wall Street
The top Dow gainers for the session: Apple Inc (NASDAQ:AAPL) up 1.5%, Goldman Sachs Group Inc (NYSE:GS) up 1.4% and Boeing Co (NYSE:BA) up 1.1%
United Technologies Corporation (NYSE:UTX) down 2.4%, Walt Disney Company (NYSE:DIS) down 1.2% and International Business Machines (NYSE:IBM) down 1.2%, were among the worst Dow performers of the session.