US open: Stocks trade higher as bank earnings continue to roll in

Wall Street stocks opened firmly in the green on Monday as a busy week of earnings kicked off with updates from some of the nation's biggest banks.

As of 1525 BST, the Dow Jones Industrial Average was up 0.63% at 31,484.65, while the S&P 500 was 0.70% firmer at 3,890.26 and the Nasdaq Composite came out the gate 1.20% stronger at 11,590.22.

The Dow opened 196.39 points higher on Monday, extending gains recorded in the previous session as market participants digested earnings from some big names.

Corporate earnings were again the session's primary focus on Monday, with Bank of America posting slightly worse-than-expected second-quarter profits and revenues in what it termed a "weakened capital markets environment".

Elsewhere, Goldman Sachs beat analysts' estimates for its second-quarter earnings and sales thanks to a better-than-expected performance across the franchise. The bank also upped its quarterly dividend payment.

Johnson & Johnson, Netflix, Lockheed Martin, Tesla, United Airlines, Union Pacific, Verizon, and more will update on their most recent quarterly trading performances later in the week.

Also in focus, the spread between two-year and ten-year Treasury notes remained inverted early on Monday, often cited as a sign of a coming recession, with the two-year note yielding 3.149% and the ten-year note yielding 2.974%.

On the macro front, the National Association of Home Builders' housing market index extended losses for a seventh month in July to hit 55, the lowest reading since May 2020, down from 67 in June and much lower than forecasts for a print of 65.

Still to come, May's net long-term Treasury International Capital numbers will follow at 2100 BST.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Goldman Sachs Group Inc. (GS) $305.80 4.06%
Boeing Co. (BA) $153.14 3.66%
Chevron Corp. (CVX) $141.45 2.76%
Salesforce.Com Inc. (CRM) $171.02 2.17%
Dow Chemical Co. (DOW) $50.53 1.98%
Walt Disney Co. (DIS) $96.87 1.75%
American Express Co. (AXP) $144.79 1.62%
Nike Inc. (NKE) $106.36 1.59%
Microsoft Corp. (MSFT) $260.25 1.38%
Caterpillar Inc. (CAT) $175.39 1.16%

Dow Jones - Fallers

Johnson & Johnson (JNJ) $176.93 -0.73%
Merck & Co. Inc. (MRK) $94.48 -0.51%
Unitedhealth Group Inc. (UNH) $527.30 -0.46%
Coca-Cola Co. (KO) $62.28 -0.35%
Verizon Communications Inc. (VZ) $50.86 -0.31%
Procter & Gamble Co. (PG) $144.65 -0.29%
3M Co. (MMM) $129.84 -0.22%
Amgen Inc. (AMGN) $248.22 -0.19%
McDonald's Corp. (MCD) $254.57 -0.17%
International Business Machines Corporation (CDI) (IBM) $139.80 -0.09%

S&P 500 - Risers

Nordstrom Inc. (JWN) $21.49 7.40%
Norwegian Cruise Line Holdings Ltd (NCLH) $12.66 7.29%
Carnival Corp. (CCL) $9.85 7.24%
Royal Caribbean Cr (RCL) $35.02 6.90%
TripAdvisor Inc. (TRIP) $18.52 6.81%
Gap Inc. (GPS) $8.86 6.42%
Freeport-McMoRan Inc (FCX) $27.38 6.02%
Nvidia Corp. (NVDA) $166.41 5.58%
Macy's Inc. (M) $17.53 5.54%
Booking Holdings Inc. (BKNG) $1,788.57 5.30%

S&P 500 - Fallers

Progressive Corp. (PGR) $112.23 -3.32%
Hologic Inc. (HOLX) $68.76 -2.59%
Amer Water Works (AWK) $145.60 -2.00%
CMS Energy Corp. (CMS) $65.08 -1.69%
Wisconsin Energy Corp. (WEC) $99.34 -1.40%
Alliant Energy Corp. (LNT) $57.35 -1.39%
Consolidated Edison Inc. (ED) $92.11 -1.38%
Xcel Energy Inc. (XEL) $69.09 -1.24%
Kimberly-Clark Corp. (KMB) $133.06 -1.20%
Lockheed Martin Corp. (LMT) $393.71 -1.17%

Nasdaq 100 - Risers

JD.com, Inc. (JD) $64.27 6.65%
Qurate Retail Inc. (QRTEA) $2.36 5.61%
Nvidia Corp. (NVDA) $166.41 5.58%
Booking Holdings Inc. (BKNG) $1,788.57 5.30%
Netflix Inc. (NFLX) $198.84 5.15%
Expedia Group Inc. (EXPE) $96.83 4.86%
Trip.com Group Limited (TCOM) $26.55 4.69%
Mercadolibre Inc. (MELI) $720.49 4.42%
Baidu Inc. (BIDU) $145.97 4.20%
Tesla Inc (TSLA) $747.23 3.75%

Nasdaq 100 - Fallers

Hologic Inc. (HOLX) $68.76 -2.59%
Gilead Sciences Inc. (GILD) $62.02 -0.93%
O'Reilly Automotive Inc. (ORLY) $677.41 -0.85%
Analog Devices Inc. (ADI) $156.89 -0.68%
QUALCOMM Inc. (QCOM) $143.41 -0.66%
Regeneron Pharmaceuticals Inc. (REGN) $603.82 -0.61%
Biogen Inc (BIIB) $216.10 -0.42%
Verisk Analytics Inc. (VRSK) $178.11 -0.40%
Costco Wholesale Corp. (COST) $521.58 -0.26%
Check Point Software Technologies Ltd. (CHKP) $122.43 -0.24%