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Nasdaq hits record ahead of big tech earnings; Dow, S&P lag

(Reuters) - The S&P 500 and the Dow industrials edged lower on Monday, weighed down by losses in healthcare heavyweight Johnson & Johnson, while the Nasdaq hit a record high ahead of a big week of technology earnings reports.

The major U.S. indexes are trading around record-high levels with a huge batch of second-quarter corporate reports due this week.

Google parent Alphabet (GOOGL.O), one of the high-flying "FANG" stocks, was set to report results later in the day that could support the run for the tech (.SPLRCT) sector, which has outperformed all major groups this year.

"The tech sector is the leading sector so far this year,"said John Augustine, chief investment officer at Huntington Bank in Columbus, Ohio. “It’s going to be important that those FANG stocks set a positive tone and give positive guidance."

Of the other FANG stocks, Netflix (NFLX.O) issued well-received results last week, and Amazon (AMZN.O) and...