US stocks end mixed ahead of earnings, data
SPY•US stocks ended mixed on Monday, with the S&P 500 and Nasdaq lower and the Dow higher. Energy shares led sector gainers as crude futures rose, while technology stocks lagged; investors looked ahead to bank earnings and inflation data.
1. Mixed market close
The S&P 500 and Nasdaq slipped on Monday, while the Dow gained. The Nasdaq fell more sharply as chip stocks dropped 2.7%; the S&P 500 and Nasdaq ended 0.2% and 1.3% below their record closing highs, respectively.
2. Energy leads sectors
Eight of the S&P 500’s 11 sectors finished higher, but technology fell 0.9% and consumer discretionary declined 0.7%. Front-month WTI and Brent crude futures settled up 2.1% and 1.8%, respectively, as supply concerns supported oil prices.
3. Earnings and data ahead
Results from Goldman Sachs, JPMorgan Chase, Citigroup and Wells Fargo were due Tuesday, marking the unofficial start of third-quarter reporting season. Investors were also looking ahead to US consumer and producer price reports scheduled for Wednesday and Thursday.
