US Stocks Near Records Amid Retail Earnings, Oil Price Volatility

US stocks are hovering near their all-time highs as investors await key earnings reports from major retailers. The S&P 500 index slipped 0.1% on Monday, but remains close to its record high set just a day earlier. Big US companies are delivering impressive profits, with those in the S&P 500 on track to see earnings per share growth of roughly 50% for the spring season.

The major retailers still to report include Home Depot, Target, and Walmart. These companies are facing significant pressure from customers who may be seeing their incomes decline due to a slowing job market. Additionally, consumers are dealing with rising bills as inflation remains high.

The war between the US and Iran continues to impact oil prices, which rose 0.7% on Monday to $89.15 per barrel of Brent crude. The price of Treasury yields also edged higher following stronger-than-expected growth in manufacturing in New York state. This move has caused the yield on the 10-year Treasury to increase to 4.70% from 4.68% late Friday.