U.S. Equities Steady With Earnings in Focus as Bank Stocks Gain

(Bloomberg) -- U.S. stocks held steady at the start of a week in which Apple Inc., Tesla Inc. and Berkshire Hathaway Inc. are due to publish results.

The S&P 500 added 0.2 percent to 2,477 at 10 a.m. in New York. The Dow Jones Industrial Average rose 74 points, adding to a new high after the benchmark closed at a record Friday.

• Bank stocks lead market in early trading; up 0.5%
• Health-care shares up 0.3% for second time in seven sessions
• Energy shares little changed with oil down 0.7%
• Real estate, telecom shares and utilities all lower
• U.S. 10-year yield up less than 1bp
• Volume in S&P 500 about 13% below 30-day average
• POLITICS:
  • After the collapse of the Obamacare repeal, Republicans may have to choose between pursuing another health bill or pushing through a tax overhaul this year, because there's almost certainly not enough time to do both
  • Russia has ordered the U.S. to slash staff at its diplomatic missions in Russia by 755, or nearly two-thirds; President Trump has criticized China on Twitter, saying the country had done “NOTHING for us with North Korea, just talk”
• ECONOMY:
  • U.S. July MNI Chicago report falls to 58.9 vs est. 60
  • EARNINGS:
    • Apple will publish 3Q earnings Tuesday; Tesla will publish 2Q earnings Wednesday; Berkshire Hathaway is estimated to publish 2Q earnings Friday

    For more equity market news:

    • VVIX Trading Near Record to VIX in Busy July: Volatility Monitor
    • S&P 500 Target Raised Yet Again, This Time at Oppenheimer

    To contact the reporter on this story: Oliver Renick in New York at orenick2@bloomberg.net.

    To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Brad Olesen

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