- S&P 500 remains on track to close modestly higher.
- Several S&P 500 stocks gain around 5% on Monday.
- Freeport-McMoRan Inc (FCX: NYSE) is down 6% ahead of earnings report.
The S&P 500 Index (SPX) started the new week with small losses and dropped as much as 1% before staging a rebound. As of writing, the SPX was up 0.15% on the day at 3,846. Investors are likely to remain on the sidelines while waiting for quarterly earnings reports from key companies such as Boeing, Tesla, Caterpillar, Apple and Microsoft.
S&P 500 top movers
Earlier in the day, Clorox Co (CLX: NYSE) announced that it has achieved its goal of 100% renewable electricity for its facilities in the US and Canada. Boosted by this development, CLX spiked to its highest level in more than four months at $224.37 before going into a consolidation phase. As of writing, CLX was the biggest daily percentage gainer of the day, up 5.1% at $212.55.
Iron Mountain Inc (IRM: NYSE), Kimberly-Clark Corp (KMB: NYSE) and J M Smucker Co (SJM: NYSE) shares are among the other top performers on Monday, rising around 5%.
On the other hand, Freeport-McMoRan Inc (FCX: NYSE) shares are falling sharply before the company releases its quarterly earnings figures on Tuesday. According to Reuters, the annual revenue is expected to rise by 7.7% to $4.213 billion from $3.91 billion a year ago. As of writing, FCX was down 6.2% at $28.60.
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