The Dow Jones Industrial Average hit a record closing high on Monday, helped by Boeing, while selling in Facebook, Alphabet and other technology companies checked the S&P 500 and pulled the Nasdaq lower.

The S&P 500 information technology sector index fell 0.53 percent, with Facebook falling 1.86 percent and Alphabet, Google’s parent company, down 1.34 percent.

Boeing rose 0.49 percent and hit a record high of $242.46 after JPMorgan raised its price target on the world’s biggest plane maker to $280 per share.

The market reacted little to news that U.S. President Donald Trump’s communications director, Anthony Scaramucci, was leaving the job after little over a week, the latest staff upheaval to hit the Republican’s six-month-old presidency.

In July, the S&P 500 rose 1.9 percent, the Dow added 2.5 percent and the Nasdaq gained 3.4 percent.

Apple, which is expected to report quarterly results after the market close on Tuesday, was down 0.51 percent.

Investors have been counting on earnings to support high valuations for equities. S&P 500 earnings are expected on average to have grown 10.8 percent in the second quarter, according to Thomson Reuters I/B/E/S.

Just four of the 11 major S&P sectors rose, with the financial index up 0.62 percent as it led the parade of gainers.

Tesla fell 3.46 percent after Chief Executive Elon Musk warned that the electric carmaker would face “manufacturing hell” as it ramps up production of its new mass-market Model 3 sedan.

Snap ended the trading day down 1.01 percent as the shares came of lock-up, meaning some investors were allowed for the first time to sell shares following the Snapchat owner’s March initial public offer.

Discovery Communications closed 8.21 percent lower after it announced it was acquiring Scripps Networks Interactive for $11.9 billion.

Charter Communications was up, closing 5.85 percent higher and reaching a record high as word on the Street was that Japan’s SoftBank Group was considering an acquisition offer.

Approximately 6.3 billion shares changed hands on the major domestic equity exchanges, a number that was above the 6 billion share average over the past 20 trading sessions.

The Day’s Economic News

Contracts to buy previously owned homes rebounded in June after three straight monthly declines, but the housing market remained constrained by a shortage of properties available for sale.

Other data on Monday showed that factory activity in the Midwest slowed this month after hitting a three-year high in June, with manufacturers reporting declining orders.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed last month, jumped 1.5 percent, more than double economists’ expectations for a 0.7 percent increase. The rise, however, only partially unwound the prior three months’ declines.

Pending home contracts become sales after a month or two. The NAR reported last week that existing home sales, which generally have been running ahead of the signed contracts, fell 1.8 percent in June.

The housing market lost ground during the second quarter at the fasted rate in nearly seven years, resulting in a drag on economic growth. Homebuilders have been unable to bridge the housing inventory gap, citing rising lumber costs and shortages of land and labor.

Pending home sales increased 0.5 percent from a year ago. In June, contracts rose 0.7 percent in the Northeast and advanced 2.1 percent in the South. They shot up 2.9 percent in the West but fell 0.5 percent Midwest.

In a separate report on Monday, the Institute for Supply Management Chicago said its MNI Chicago Business barometer fell to a three-month low of 58.9 in July from a reading of 65.7 in June. A reading above 50 indicates expansion in manufacturing in the Chicago area.

The report mirrored other regional manufacturing surveys that have shown softening in activity. Some of the moderation reflects the fading boost from the energy sector after a recent drop in crude oil prices. The Institute for Supply Management will publish its July survey of U.S. manufacturing on Tuesday.

The decline in sentiment in the ISM-Chicago survey was broad-based this month. The survey’s measure of new orders received by factories fell 11.6 points to a reading of 60.3, the lowest since February. The production index fell 6.9 points to 60.8.

A measure of order backlogs fell 4.9 points from June’s 23-year high to a reading of 57.9 in July. Suppliers took slightly less time to deliver key inputs. In response to a special question on wages, over 70 percent of manufacturers said they had increased their workers’ salaries over the past year.

A quarter of those surveyed said they had kept wages unchanged while 3 percent said they had cut their workers’ paychecks.

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