Global Stocks

European stocks finished mostly higher Monday, led by ARM Holdings PLC soaring on the chip designer's $32 billion buyout deal.

But Turkish shares closed down in the wake of a failed military coup.

The Stoxx Europe 600 SXXP, +0.23% rose 0.2% to end at 338.70, after the pan-European index on Friday slipped 0.2%.

U.S. stocks eked out small gains Monday, pushing both the Dow Jones Industrial Average and the S&P 500 Index to fresh all-time closing highs and the Nasdaq Composite Index to its highest finish of 2016.

The S&P 500 SPX, +0.24% traded within a narrow 8-point range and closed up 5.15 points, or 0.2%, at 2,166.89, a new closing high, led by gains in tech, materials and financials.

The Dow industrials DJIA, +0.09% closed at a new high for the fifth day in a row while trading within a 66-point range.

The Nasdaq Composite Index COMP, +0.52% rose 26.19 points, or 0.5%, to close at 5,055.78, after trading within a 33-point range. The Nasdaq is up 1% for the year.

Stocks got a boost by a flurry of upbeat earnings reports from financial companies, most notably Bank of America Corp. BAC, +3.29%

Asian shares slipped on Tuesday, as a downturn in crude oil curbed the enthusiasm from fresh record highs on Wall Street.

China stocks were lower, with both the CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen and the Shanghai Composite Index .SSEC down 0.4 percent.

Japan's Nikkei stock index .N225 pared early gains but was still up 0.5 percent, as markets reopened after a public holiday on Monday and responded to a weaker yen.

In the previous week, the benchmark index had gained 9.2 percent to notch its biggest weekly gain since December 2009, helped by Wall Street as well as hopes that the Bank of Japan will deliver further stimulus as early as its next policy meeting later this month.

Japanese policymakers won't go as far as funding government spending through direct debt monetization, but might pursue a mix of aggressive fiscal and monetary expansion to battle deflation, according to sources familiar with the matter.

A failed coup in Turkey had dented risk sentiment and bolstered the perceived safe-haven yen before it ran its course. On Monday, Turkey purged its police force after rounding up thousands of soldiers and called for the United States to hand over a cleric that the Turkish government accuses of being behind the takeover attempt.