Stocks traded choppily Monday morning ahead of a busy week of corporate earnings results, a Federal Open Market Committee monetary policy meeting and plethora of economic data reports.
The S&P 500 and Nasdaq Composite each opened slightly to the upside, with the materials and information tech sectors leading advances in the S&P 500. Shares of Amazon (AMZN) and Apple (AAPL) each rose more than 1%, with both companies set to report second-quarter results later this week.
Meanwhile, gold prices jumped to a record Monday morning, closing in on the $2,000 per ounce mark as investors piled into the safe haven asset. Low interest rates and a weakening US dollar helped support the precious metal’s recent surge and could send prices even higher, according to some analysts.