Stocks closed modestly higher on Monday ahead of earnings season, which kicks into full gear on Tuesday when PepsiCo reports. Here's the scoreboard:
- Dow: 21,423.51, +9.17, (0.04%)
- S&P 500: 2,429.45, +4.27, (0.18%)
- Nasdaq: 6,181.69, +28.61, (0.46%)
- Abercrombie & Fitch gave up on trying to sell itself after talks with several suitors. "The A&F board of directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan," CEO Arthur Martinez said. Its shares plunged 20%.
- Senate Majority Leader Mitch McConnell is planning to roll out an updated version of the Senate GOP healthcare bill Thursday, Politico reported. The move comes as leadership hopes the Senate can bring the bill, the Better Care Reconciliation (BCRA), to the floor for a vote by the end of next week.
- Best Buy fell 6% after it was reported that Amazon is going after one of the company's key advantages. Amazon is setting up its own version of Best Buy's Geek Squad, the in-person service for servicing products, according to Recode.
- Walmart dropped 3% ahead of Amazon's big annual Prime Day sale. Amazon was up nearly 2%.
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