US Stocks-Nasdaq ends down as expectations of Hormuz deal fade
SPY•Indexes slip; traders watch Fed and earnings
According to preliminary data, the S&P 500 .SPX lost 4.74 points, or 0.06%, to end at 7,753.13 points, while the Nasdaq Composite .IXIC lost 84.89 points, or 0.32%, to 26,605.73. The Dow Jones Industrial Average .DJI fell 71.77 points, or 0.13%, to 53,965.16.
Reports later this week could offer clues on the Federal Reserve's monetary policy path.
Data on Friday that showed U.S. employers unexpectedly shed 23,000 jobs in July prompted traders to cut odds of a Federal Reserve interest-rate hike in September. Traders now price in a 52% chance of a rate hike in September, according to the CME FedWatch tool.
More quarterly results are on the agenda as well, including reports from semiconductor company Applied Materials AMAT.O and networking equipment maker Cisco CSCO.O.
About 85% of the 436 companies in the S&P 500 that have reported earnings so far this period have beaten estimates, according to LSEG data.
