US stocks moderately lower in range-bound trading – MarketWatch

This article was originally published on this site

U.S. stocks ended moderately lower on Monday amid a lack of fresh incentives with major indexes moving within a narrow range all session. “The U.S. equity market remains in the grips of a correction, although a period of stabilization appears likely this week. Short-term momentum is weak,” said Katie Stockton, chief technical strategist at BTIG, in a note. The S&P 500 shed 4 points, or 0.2%, to close at 2,048 and the Dow Jones Industrial Average fell 7 points to finish at 17,494. The large-cap index stayed within a 9-point band while the blue chip index moved in a 70-point range. The Nasdaq slid 4 points to close at 4,765, moving less than 29 points during the day.