US stocks traded modestly higher Monday, holding near record levels after the S&P 500 posted a 3.6 percent gain last week, its strongest since April.
The Nasdaq saw modest early gains while the Dow Jones Industrial Average and the Russell 2000 slipped slightly, both after reaching record highs, according to Investrade. Crude oil traded near $78 a barrel.
Movement was concentrated in individual names. Archer Aviation surged after agreeing to acquire three Boeing subsidiaries. Vertex Pharmaceuticals rose 8 percent after a competitor discontinued development of an experimental cystic fibrosis drug that had failed to meet its main goal in a mid-stage trial.
Declines were sharper elsewhere. Barrick shares slipped after second-quarter profit came in below estimates on slightly better revenue, and the miner said it plans a North American listing.
SpaceX rose 3 percent in premarket trading after breaking a four-week losing streak. Retail investors who had defended the stock through its post-listing decline turned net sellers on Friday, Reuters reported. The company has lost more than $500 billion in market value since its June 12 debut.
Earnings season is more than 85 percent complete, with a small number of technology companies still to report this week before retailers begin over the following two weeks.
Energy markets remain the main source of uncertainty. Oil edged higher in Sunday night trading after Iran set out conditions for reopening the Strait of Hormuz, signaling that recent price relief may not hold.