Major Wall Street indexes eke out more record highs

Stocks closed with modest gains on Wall Street on Monday, pushing the indexes above the all-time highs that they set Friday.

More than 65% of stocks in the S&P 500 rose Monday, led by energy companies as the price of U.S. crude oil rose 0.6%, adding to a more than 75% gain this year. Exxon Mobil rose 1.8%. A mix of companies that rely on direct consumer spending for goods and services accounted for a big slice of the index’s gains. Tesla jumped 8.5% and Starbucks gained 3.5%.

Losses by technology, communication and healthcare companies kept the S&P 500’s gains in check. Microsoft fell 0.7%, Google parent Alphabet slid 3.1% and UnitedHealth Group dropped 1.4%.

The latest gains came as investors reviewed another batch of corporate quarterly report cards in what has so far been a better-thanexpected earnings season despite Wall Street’s concerns over the impact that supply-chain disruptions and higher inflation are having on companies.

“We’re starting to see corporate earnings come in and the fear was that you’d not have pricing power and you’d see that impact in margins,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “But so far, we’re seeing companies either do one or both of two things: be able to raise prices and have consumers pay those prices or to use technology to improve efficiency to offset some of those input prices.”

The S&P 500 index rose 8.29 points (0.2%) to 4,613.67. The Dow gained 94.28 (0.3%) to 35,913.64. The Nasdaq added 97.53 (0.6%) to 15,595.92. The Russell 2000 of smallercompany stocks picked up 60.93 (2.7%) to 2,358.12, closing within 0.1% of its all-time high set March 15.