U.S. stocks edged higher and stayed near record levels in early afternoon trading on Monday, with investors waiting for big U.S. companies to report their quarterly earnings.

Analysts’ are estimating an 8.2 percent rise in second-quarter earnings for the S&P 500 companies from a year earlier.

This follows a robust first quarter when U.S. companies posted their best earnings since 2011, according to Thomson Reuters data.

Microsoft (MSFT.O), IBM (IBM.N) and Johnson and Johnson (JNJ.N) are scheduled to report results this week. Netflix (NFLX.O) will report results after the market close on Monday.

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