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Nasdaq closes at record high as big tech earnings kick off

U.S. equities closed mostly lower Monday as Wall Street geared up for a major week of earnings and Federal Reserve news.

The Dow Jones industrial average fell about 50 points with Johnson & Johnson contributing the most losses. The S&P 500 close 0.1 percent lower with utilities and telecommunications leading decliners.

The Nasdaq composite outperformed, closing 0.36 percent higher and notching intraday and closing records. The tech-heavy index is up nearly 20 percent year to date.

Approximately 180 S&P 500 components are scheduled to report, including tech giants Facebook and Amazon. Google-parent Alphabet posted better-than-expected quarterly results after the bell.

"This is going to be a week where we really focus on earnings," said Art Hogan, chief market strategist at Wunderlich Securities. "To the extent where we continue to have these-better-than-expected earnings...