Wall Street Edges Closer to Record Highs Amidst Earnings and Inflation Concerns

Wall Street's main indices are nearing record highs as investors await key earnings reports from top retailers, including Home Depot, Target, and Walmart. These companies' results will provide insight into consumer spending habits amidst high inflation and a weakening labor market.

The S&P 500 dipped 0.1% on Monday but remains close to its all-time high reached on Thursday. Meanwhile, the Dow Jones Industrial Average fell by 174 points or 0.3%, while the Nasdaq Composite was relatively unchanged.

L3Harris Technologies' stock dropped 2.6% after its CEO and chairman, Christopher Kubasik, left his positions following an internal matter unrelated to financial reporting or customer relationships.