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NEW YORK -- Wall Street remained stuck in its standstill Monday, and stocks again moved only modestly ahead of reports that could offer more direction on where the economy and corporate profits are heading.
The S&P 500 edged up by 3.52 points, or 0.1%, to 4,137.04 after barely budging last week. The Dow Jones Industrial Average rose 66.44, or 0.2%, to 33,875.40, while the Nasdaq composite slipped 35.25, or 0.3%, to 12,037.20.
Coca-Cola slipped 0.2% after it reported stronger-than-expected profit for the first quarter but refrained from raising forecasts for sales and other measures for the full year. It was the only company in the S&P 500 to report Monday morning, but more than 170 others are scheduled to follow it this week.
The question is whether they can top the low bar that Wall Street has set for them, and what CEOs say about their prospects for profits later this year. Analysts expect S&P 500 companies to report their worst drop in earnings since the spring of 2020, when the pandemic paralyzed the economy.
Some of Wall Street's most influential companies are set to report this week, including Microsoft on Tuesday and Amazon on Thursday. Several of these Big Tech stocks were among the heaviest weights on the market. Microsoft fell 1.4%, and Amazon dipped 0.7%.