Stock market today: Stocks climb after Spotify job cuts

Tech stocks led the way higher on Monday as investors braced for a heavy slew of corporate earnings reports due out this week.

About 20% of S&P 500 companies will release their quarterly results in the next five days, with the tech giant Microsoft (MSFT (opens in a new tab)+1.0%) and manufacturer of electric vehicles You’re here (TSLA (opens in a new tab)+7.7%) among notable names this week earnings schedule. But, the focus was on a big layoff announcement from the audio streaming service Spotify (SQUARE (opens in a new tab)+2.1%).

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