U.S. stocks closed only barely higher on Monday, but the modest gains were enough to nudge the Nasdaq composite to yet another record finish.
The tech-heavy Nasdaq ended the day up almost 9 points, or just 0.2%, which was enough to secure the tech-heavy index’s third straight record finish. The Nasdaq reached an all-time intraday high of 5,231.9 points before finishing the day at 5,218.9.
The Nasdaq is now up 10.2% on the year, gaining more than 5% in July alone. The index benefitted from strong trading days for tech stocks such as Facebook FB as well as Tesla Motors TSLA , which unveiled upgrades to its Model S electric car. Apple’s AAPL stock also climbed nearly 2% a day before the tech giant reveals its latest quarterly figures.
The Dow Jones Industrial Average and the S&P 500 also experienced very modest gains on Monday, with both indices ending the day up almost 0.1%.
The relative lack of movement for the broader market comes as investors gird themselves for what is a jam-packed week of corporate earnings reports. In addition to Apple’s third-quarter report on Tuesday, fellow tech giants such as Amazon AMZN , IBM IBM , Microsoft MSFT , and Yahoo YHOO all report earnings this week. Other large companies reporting this week include Coca-Cola KO , Comcast Corp. CMCSA , Verizon Communications VZ , and AT&T T .
