Fed to make policy announcements Wednesday.
Major U.S. stock indexes did not change much as bidding opened this week after big gains last week and as investors looked ahead to news on corporate earnings and important decisions on Federal Reserve policy.
The Dow Jones Industrial Average ended up 12.53 points — just 0.1 percent — to 16,817.94, while the S&P 500 lost 2.95 points, or 0.2 percent, to 1961.63. Nasdaq jumped 2.22 points, less than 0.1 percent, to 4,485.93. Most of the action yesterday was around energy shares, which plummeted after early selloffs of crude oil, according to the Wall Street Journal — the S&P 500 Energy sector index dropped 2 percent, an overall 15.4 percent decline since the summer.
Most everywhere else, however, experienced little market movement. Investors don’t want to make big trades with some important economic events scheduled for later this week.
On Wednesday, the Fed will announce any new policy changes, and a number of third-quarter earnings reports are expected this week. About 158 companies in the S&P 500 are due to report those results.
Analysts believe that investors are taking a wait-and-see approach with so much big news on the horizon.
However, long-term investors remain bullish on U.S. shares for the rest of the years due to good corporate earnings and an improving economy. A total of 213 companies in the S&P 500 have reported their earnings, and they have been driving an expected index growth of 5.6 percent from a year ago, higher than expected.
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