The top equity benchmarks on Monday opened at fresh record highs as Wall Street prepares itself for second-quarter earnings to kick off in earnest with top firms like JPMorgan Chase, Netflix and Wells Fargo preparing to release financial results through June.
The Dow Jones Industrial Average opened at 27,332. Meanwhile, the S&P increased to 7,263 and the Nasdaq rose to 3,015. It's the second-straight session of records for the three exchanges. The major markets then traded flat, giving up early gains.
Boeing is a drag on the Dow on Monday, with shares down roughly 1.5 percent after the Wall Street Journal reported on Sunday that the Max fleet may not return to service until 2020.
American Airlines and United Airlines have both extended the potential for flight cancellations due to the grounding until early November.
Citigroup kicked off earnings season for the big banks with results that beat expectations, however concerns about interest margins raised concern among other financial shares.
The New York City-based lender reported second-quarter profits of $1.83 per share, better than the $1.80 per share that analysts expected. Revenue also increased 2 percent to $18.8 billion, above Wall Street predictions.
JPMorgan Chase, Goldman Sachs, Johnson & Johnson, United Airlines and Wells Fargo are among those who report on Tuesday.
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Meanwhile, U.S. tariffs on China underscored the lowest economic growth for the Asian nation in the past 26 years, down to 6.2 percent in the second quarter.
Trump and Chinese President Xi Jinping agreed to withhold any new tariffs as trade talks restart, but the ongoing duties remain a point of contention in the discussions.
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