U.S. stocks closed mildly higher on Monday, with the Nasdaq at another record, as investors digested earnings reports. ( Tweet This )
"Greece is in the rear-view mirror. To me I think we've successfully transitioned from the global macro to the global micro," said Art Hogan, chief market strategist at Wunderlich Securities. "We've had a lot of people exceeding expectations."
The Nasdaq Composite ended up 8.7 points for its third record close in a row. The major averages turned higher in late morning trade, with the Nasdaq topping its intraday high set on Friday and the S&P 500 briefly rising above its all-time closing high but failing to close above it.
Information technology led index gains, while energy fell more than 1 percent as the worst-performing sector in the S&P 500 as crude oil dipped below $50 a barrel for the first time since April 6. Exxon Mobil and Caterpillar were among the greatest decliners in the Dow Jones industrial average.
Crude oil futures settled down 74 cents, or 1.45 percent, at $50.15 a barrel, the lowest settlement since April 2.