Technology drove the indexes higher on Monday; Amazon (AMZN) jumped 7.97 percent. The Nasdaq increased 2.51 percent on the day, while the S&P 500 gained 0.84 percent. The Dow Jones Industrial Average increased 0.03 percent. The Russell 2000 Index fell 0.36 percent.
SPDR Technology (XLK) climbed 2.56 percent on Monday, SPDR Consumer Discretionary (XLY) 1.60 percent and SPDR Communication Services (XLC) 1.20 percent. All other sectors were down on the day.
June existing home sales are out on Wednesday. Analysts are looking for an annualized sales pace of 4.9 million, up 1 million from May’s pace.
Friday brings the July flash manufacturing PMIs. The Markit manufacturing PMI is expected to cross into expansion.
The U.S. Dollar Index slipped 0.15 percent as investors looked forward to more stimulus in Europe. iShares MSCI Emerging Markets (EEM) climbed 1.29 percent and iShares MSCI EAFE (EFA) 0.49 percent.
International Business Machines (IBM) kicked off earnings this week with a strong report. Cloud computing helped the firm beat both earnings and revenue estimates. Shares climbed more than 5 percent in after-hours trading.
On Tuesday, Intuitive Surgical (ISRG), Coca-Cola (KO), United Continental (UAL), Texas Instruments (TXN), Snap Inc. (SNAP), Lockheed Martin (LMT), Philip Morris International (PM), Capital One Financial (COF), Synchrony Financial (SYF) and Ameritrade (AMTD) are among the bigger names reporting.
Wednesday will be an important day for technology earnings. After the close, investors will hear from Tesla (TSLA) and Microsoft (MSFT). Other firms delivering results include Thermo Fisher Scientific (TMO), Align Technology (ALGN), Chipotle Mexican Grill (CMG), Biogen (BIIB), CSX Corp (CSX) and Las Vegas Sands (LVS).
Union Pacific (UNP), Intel (INTC), American Airlines (AAL), AT&T (T), Danaher (DHR), Twitter (TWTR) and Royal Caribbean Cruises (RCL) headline Thursday earnings.
Verizon (VZ), Honeywell (HON), American Express (AXP), Schlumberger (SLB), Ventas (VTR) and Goodyear Tire (GT) close out the week.