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The S&P 500 ticked higher Monday as Wall Street geared up for a busy week of corporate earnings and looked ahead to a key policy announcement from the U.S. central bank.
The Dow Jones Industrials finished in the red 49.41 points to 40,539.93.
The much-broader index recovered 4.44 points to 5,463.54.
The NASDAQ fought its way into positive country 12.32 points to 17,370.20.
This week’s earnings slate will play a role in determining whether tech stocks can now bounce back. Microsoft, Meta Platforms, Apple and Amazon are all set to report their quarterly results in the coming days.
Another key event this week will be the Federal Reserve meeting, with the central bank set to release a new policy statement on Wednesday. The Fed is not expected to cut interest rates this week, but traders will be looking for clues as to how likely the central bank is
to make a move at its September meeting.
Monday’s moves come after a volatile week in the stock market. The S&P 500 dipped 0.8% to end the week, while the tech-heavy NASDAQ Composite fell 2.1%. However, the Dow rose 0.8%.
Prices for the 10-year Treasury grew, lowering yields to 4.17% from Friday’s 4.19%. Treasury prices and yields move in opposite directions.
Oil prices decreased $1.36 at $75.80 U.S. a barrel.
Gold prices lost $4.47 to $2,373.40
S&P, NASDAQ Eke out Small Gains
