U.S. equities wavered on Monday, coming off a positive week for the major averages as traders braced for the busiest week of corporate earnings, as well as insights into further interest rate hikes from the Federal Reserve.
The Dow Jones Industrial Average rose 71 points, or 0.2%, while the S&P 500 was little changed. The Nasdaq Composite slid by 0.4%, after opening higher. All three of the indexes are on track for their best month of the year.
Monday starts the final week of trading for the month of July — and perhaps the most important week of the summer — with the Fed meeting, GDP data and earnings from almost a third of the S&P 500 on deck. Investors are still worried about the potential of an economic recession and are hoping this week’s news storm will help direct their expectations.