U.S. stocks finished mixed on Monday, after flipping between modest gains and losses, as investors contemplate a week stuffed with monster earnings and await a Federal Reserve policy meeting that’s expected to include another outsize rate hike.
Dow industrials and the S&P 500 finished higher for the fourth time out of the past five trading days, while the Nasdaq Composite ended lower.
- The Dow finished up +90.75 or +0.28%
- The S&P 500 closed up +5.21 or +0.13%
- The Nasdaq ended lower -52.45 or -0.43%
Traders generally held steady on Monday and appeared reluctant to build bold positions before a big batch of corporate earnings, which could shape market sentiment in the short term.
For the new week, there will be 175 S&P 500 companies reporting, including big beasts like Apple Alphabet Microsoft, and Amazon though the action doesn’t pick up again until Tuesday.
The looming Federal Reserve rate decision on Wednesday provided another reason for caution. The central bank is expected to raise borrowing costs by 75 basis points to a range of 2.25% to 2.50%, but investors will be keen to hear about how the Fed sees the pace of future hikes……[read more]
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