Stocks are at record highs

The S&P 500 climbed to a record high in early trading on Monday, crossing the level set on Friday.

In early trade on Monday, the S&P 500 was up about 7 points to 2,124.

Other major indexes also opened higher.

Near 10:00 a.m. ET, the Dow was up 64 points and the Nasdaq was up 20 points to 5,116, also an all-time high.

The Nasdaq crossed its closing high on Friday.

In economic data out Monday, the latest flash reading on service sector activity from Markit Economics came in at 57.8, down from 59.2 in March and missing the consensus of 58.2.

Apple shares climbed by as much as 2% ahead of its earnings report after the closing bell, which is expected to show another monster performance.

NOW WATCH: This simple exercise will work out every muscle in your body

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at