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Stock market today: Dow drops 300 points, Nvidia, Apple close at fresh records

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Basis Points,Apple,Nvidia

Investors are bracing for a packed week of top-tier earnings after the S&P 500 slipped from record levels.

Stocks closed mixed on Monday as the 10-year Treasury yield rose and investors braced for a packed week of top-tier earnings that could drive or drag on a record-setting rally. The S&P 500 dropped almost 0.2%, coming off a fresh all-time closing high and a sixth weekly win in a row. The Dow Jones Industrial Average dropped more than 300 points, closing about 0.8% lower, while the tech-heavy Nasdaq Composite closed up 0.2%.

Earnings season ramps up this week, as over 100 S&P 500 companies are lined up to report. So far, 80% of third quarter updates from those on the benchmark have topped the mark. Investors are on edge for Tesla's report on Wednesday, after its robotaxi unveiling fell short of expectations. The EV maker is the highlight of the week amid questions about Big Tech performance, even after Netflix's strong kickoff to the megacap season.

 

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