S&P 500, Nasdaq Hit Records; Dow Falls On Banks, ACA Repeal Failure

Banks drag S&P Dow lower Netflix caps Nasdaq losses

Stocks were mixed as investors awaited second-quarter earnings results which companies begin reporting this week.

The financial sector (-0.3%) ended lower, as BofA and Goldman Sachs beat earnings and revenue estimates but gave back some of the gains the group enjoyed ahead of earnings season. The benchmark 10-year note yield slipped to 2.28 percent, while the two-year yield hovered around 1.35 percent. Expectations of solidly higher earnings, along with fairly low interest rates, have propelled stocks to multiple records in 2017.

The S&P healthcare sector was under pressure, falling 0.52 percent, after the healthcare Bill to replace Obamacare sank in the Senate, as Republicans remained divided on how to repeal and replace the Affordable Care Act.

On Friday, stocks in the US reached new record highs, with the Dow closing 0.4% higher, while the S&P was up 0.5% and the tech heavy Nasdaq came up just short of a new record but increased 0.6% nonetheless.

The blue-chip index fell 54.99 points, or 0.3%, to close at 21,574.73.

Jewel Thief Doris Payne Charged With Walmart Theft
The Atlanta Constitutional Journal reports that polic say she stole about $86.22 worth of goods from the Walmart. She steals because she can, said California-based lawyer Gretchen Von Helms, who has represented her.

The GOP Health Care Bill & Minnesota
The five-centimeter blood clot was removed and the surgery went "very well", the hospital said. There are 52 Republican senators and 48 Democratic senators.

China's economy grows 6.9 per cent in second quarter
Julian Evans-Pritchard, an economist at Capital Economics, said: "China's strong first half to the year won't last". China's factory output grew 7.6% in June, the fastest in three months.

With no major data due out on Monday, market participants also kept an eye on the oil prices.

The S&P 500 is up 221.78 points, or 9.9 percent.

This follows a robust first quarter when USA companies posted their best earnings since 2011, according to Thomson Reuters I/B/E/S. The Dow Jones Small-Cap Growth TSM Index closed at 8,668.02 for a gain of 6.22 points or 0.07%.

On the plus side, Johnson & Johnson Co (NYSE: JNJ) gained 1.8%.

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