Stocks Ended Mixed, Dow Hit Record High

U.S. stocks ended mixed on Monday, with the Dow Jones Industrial Average touched a fresh record on the back of a rally in energy and financials, but a fall in tech stocks dragged down the Nasdaq. The Dow Jones Industrial rose 129.64 points, or 0.61%, to 21,479.27. The S&P 500 advanced 5.60 points, or 0.23%, to 2,429.01. The Nasdaq Composite fell 30.36 points, or 0.49%, to 6,110.06.

Oil prices look set to notch an eighth-straight session gain Monday, the longest streak of wins for U.S. crude in more than seven years. August West Texas Intermediate crude rose 74 cents, or 1.6%, to $46.78 a barrel. September Brent crude tacked on 66 cents, or 1.4%, to $49.43 a barrel.

American manufacturers are growing at the fastest pace in almost three years, reflected improved economic conditions both at home and abroad. The Institute for Supply Management said its manufacturing index rose to 57.8% in June from 54.9%. That’s the highest reading since mid-2014.

Construction spending in May was virtually unchanged when compared with upwardly revised April data, the Commerce Department said Monday. Outlays for all construction ran at a seasonally adjusted annual rate of $1.23 trillion, about 1% higher than April’s pace, which was originally reported as $1.22 trillion.