Updated from 1:46 p.m. ET, Monday, Aug. 7. 

The Dow Jones Industrial Average was back on track for another record after a shaky morning on Monday, Aug. 7.

The Dow was up 0.07% after trading at an intraday record of 22,121 earlier in the session. If the blue-chip index closes higher, it will mark its ninth straight day with a record close. The S&P 500 rose 0.11%, and the Nasdaq gained 0.44% on Monday.

The Dow has managed to clinch new records day after day with mostly just modest gains. Strength in earnings from the likes of Apple Inc. (AAPL) - Get Report , Boeing Co. (BA) - Get Report  and Caterpillar Inc. (CAT) - Get Report has propelled the blue-chip index higher. 

Friday's gains marked the 34th time the Dow has ended at a records so far in 2017, a streak not seen since the 38 record closes in 2014. The eight-day record streak for the Dow is its longest of the year. August looks like another month in the green for the Dow, its fifth monthly gain in a row and its ninth in the past 12 months.

Tyson Foods Inc. (TSN) - Get Report led gains in the consumer staples sector. The meats company rose 5% on Monday after topping third-quarter estimates and guiding for an in-line full year. Adjusted earnings of $1.28 a share exceeded consensus of $1.19, while revenue of $9.85 billion exceeded targets of $9.46 billion. Tyson saw strength in its beef and pork segments. For the full year, the company anticipates full-year adjusted profit of $4.95 to $5.05 a share, wrapping estimates of $5.01.

Watch: Jim Cramer Reveals How Tyson Foods Diversified Beyond Chicken

Other animal processing and prepared foods companies rose, including Hormel Foods Corp. (HRL) - Get Report , Sanderson Farms Inc. (SAFM) - Get Report and Pilgrim's Pride Corp. (PPC) - Get Report . Other consumer staples stocks were also on the rise, such as Dow components Walmart Stores Inc. (WMT) - Get Report  and Procter & Gamble Co. (PG) - Get Report . The Consumer Staples Select Sector SPDR ETF (XLP) - Get Report increased 0.6%.

United Technologies Corp. (UTX) - Get Report declined more than 2%, the biggest weight on the Dow, on reports it is contemplating making a play for Rockwell Collins Inc. (COL) . United Technologies has a market cap of about $97 billion, while Rockwell has a cap of just over $19 billion. United would not comment on the reports.

Crude oil prices closed lower on Monday as worries spiked over the outcome of a meeting among some of the world's largest oil producers. The Organization of the Petroleum Exporting Countries is meeting in Abu Dhabi to discuss the effectiveness of their commitment to output cuts to rebalance oil markets.

There has been concern over some members' compliance with the agreed-upon cuts. Compliance declined to 86% in July, a six-month low. Meanwhile, production at Libya's largest oil field, its Sharara field, is on track to return to normal levels after a brief disruption, according to the National Oil Corporation. 

West Texas Intermediate crude oil was down 0.4% to $49.39 a barrel on Monday.

The energy sector was the worst performer on Monday. Exxon Mobil Corp. (XOM) - Get Report , Total SA (TOT) - Get Report , China Petroleum & Chemical Corp (SNP) - Get Report  and Schlumberger Ltd. (SLB) - Get Report were all lower, while the Energy Select Sector SPDR ETF (XLE) - Get Report declined by 1%. 

Schlumberger is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SLB. Learn more now.

The current federal funds rate of 1% to 1.25% is appropriate over the "near term," St. Louis Fed President James Bullard said in comments at an event in Nashville, Tennessee, on Monday. Bullard also said that softer inflation trends meant there was no rush to raise rates. Also on Monday, Minneapolis Fed President Neel Kashkari participates in a Q&A in Sioux Falls, South Dakota, at 1:25 p.m. ET.

Fedspeak comes back into the spotlight this week with investors eager for further clues as to when the central bank could begin unwinding its balance sheet. The Federal Reserve currently holds $4.5 trillion in Treasurys and mortgage-related bonds on its balance sheet. Unloading those would likely tighten monetary conditions in the same way an interest rate hike would. Economists largely expect the process to begin in September.

Berkshire Hathaway Inc. (BRK.A) - Get Report saw profit slide 15% in the quarter ended in June as the second straight quarter of insurance-underwriting losses overpowered gains at two of billionaire CEO Warren Buffett's biggest acquisitions: Burlington Northern railroad and aerospace supplier Precision Castparts. Earnings of $2,592 a share in the second quarter came in below analysts' forecasts.

The underwriting portion of Berkshire's insurance business posted a loss of $22 million, narrower than the $267 million in the first three months of 2017 but a sharp reversal from the profit a year earlier. The dour performance was driven by a $400 million loss in Berkshire Hathaway Reinsurance Group, which provides coverage for insurers worldwide and received unexpected claims related to hurricanes and earthquakes in 2016.

Horizon Pharma PLC (HZNP) - Get Report  gained 4% following a positive second quarter. The drugmaker reported a net loss of $1.29 a share compared with profit of 9 cents a share a year earlier. However, adjusted earnings of 41 cents a share soared past estimates of 10 cents. Revenue of $289.5 million topped estimates of $237 million. Horizon upped its full-year sales guidance to $1.01 billion to $1.045 billion, higher than previous estimates of $985 million to $1.02 billion.  

NxStage Medical Inc. (NXTM) - Get Report roared 28% higher after Fresenius Medical Care AG agreed to buy the company for around $2 billion. NxStage's board has approved the $30-a-share deal, but it still needs the approval of NxStage shareholders and to pass regulatory muster. 

Mylan NV (MYL) - Get Report fell 2.5% even after announcing that the Food and Drug Administration had given tentative approval to its HIV/AIDS treatment for those in developing countries. The first-line treatment comes in the form of a tablet patients take daily. 

BlackBerry Ltd. (BBRY)  fell nearly 3% on Monday after Goldman Sachs resumed coverage with a sell rating and $8.50 price target. Analyst Gabriela Borges is cautious in her outlook for auto business revenue and anticipates BlackBerry's auto-related software to not "ramp meaningfully until 2019."

Netflix Inc. (NFLX) - Get Report announced that it had bought comic book publisher Millarworld, its first acquisition in its history. Millarworld is the company behind popular titles including "Kick-Ass" and "Kingsman." Netflix did not detail the costs of the deal.

Marriott International (MAR) - Get Report was slightly higher after partnering with Alibaba Group Holding Ltd. (BABA) - Get Report to tap into the growing Chinese travel market. The joint venture will let Chinese travelers book rooms at the hotel company's 6,200 worldwide properties through Alibaba's travel service website and app.

More of What's Trending on TheStreet: