U.S. stocks open mixed amid upbeat earnings

U.S. stocks opened mostly higher on Monday, as Wall Street digested better-than-expected corporate earnings.

Bank of America on Monday reported quarterly net income of 4.2 billion U.S. dollars, or 36 cents per diluted share, beating analysts' estimates. Revenues for the giant commercial bank came in at 20.6 billion dollars. Its shares jumped over 2 percent to 13.92 dollars apiece.

Tons of the biggest U.S. companies will report quarterly results this week.

The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the second quarter of 2016 are expected to decrease 4.7 percent year on year, while the revenues are forecast to decline 0.8 percent.

Shortly after the opening bell, the Dow Jones Industrial Average ticked down 7.43 points, or 0.04 percent, to 18,509.12. The S&P 500 edged up 0.16 points, or 0.01 percent, to 2,161.90. The Nasdaq Composite Index gained 3.89 points, or 0.08 percent, to 5,033.48.

U.S. stocks posted solid gains for the last week, with the Dow Jones Industrial Average and the S&P 500 refreshing their record highs for several times, as concern about a global economic slowdown in a post-Brexit environment receded amid an array of generally upbeat economic reports.

On a weekly basis, all three major indices posted solid gains, with the Dow, the S&P 500 and the Nasdaq going up 2 percent, 1.5 percent and 1.5 percent, respectively. Endi