S&P 500 on track for record high in busy week of earnings
ALEX VEIGA
AP Business Writer
Stocks marched higher on Wall Street in afternoon trading Monday, extending the market's gains into a fourth week and driving the S&P 500 on track for an all-time high.
The rally comes at the beginning of a busy week of corporate earnings, new economic data and expectations of another interest rate cut by the Federal Reserve.
Technology, health care and communication services stocks were powering the market's latest gains, outweighing losses in real estate, utilities and household goods makers. Energy stocks also fell as crude oil prices headed lower. Banks rose along with bond yields, which help set interest rates for mortgages and other loans.
Investors continued to pore over company earnings reports Monday. Some 156 companies in the S&P 500 ar