Tech stocks power S&P to yet another record high

The S&P 500 hit a record intraday high on Monday, led by tech stocks such as Apple and Google-parent Alphabet, but a drop in oil prices weighed on energy stocks. The S&P 500 gained 3.6 percent in July, lifting its valuation well above historical levels. Oil prices fell about 2.3 percent due to an increase in OPEC production and U.S. oil rig additions.