US stock indices were muted on Monday ahead of the Federal Reserve’s monetary policy meeting scheduled for January 30-31 and earnings from Big Tech companies.
At 11:27 a.m. ET, the Dow Jones Industrial Average was down 16.46 points, or 0.04 per cent, at 38,092.97, the S&P 500 was up 1.04 points, or 0.02 per cent, at 4,892.01, and the Nasdaq Composite was up 27.38 points, or 0.18 per cent, at 15,482.74.
The Dow Jones Industrial Average rose 6.40 points, or 0.02 per cent, at the open to 38,115.83. The S&P 500 opened higher by 1.98 points, or 0.04 per cent, at 4,892.95, while the Nasdaq Composite gained 15.29 points, or 0.10 per cent, to 15,470.66 at the opening bell.
ALSO READ: Wall Street week ahead: Investors’ major focus on Fed rate decision, big tech earnings
The US central bank is widely expected to keep interest rates unchanged, but investors and traders will look for signals from the Fed meeting outcome and chairman Jerome Powell’s press conference whether the central bank will start cutting interest rates at its next monetary policy meet in March.
On Friday, the S&P 500 slipped 3.19 points, or 0.1 per cent, to 4,890.97. The Dow Jones Industrial Average rose 60.30, or 0.2 per cent, to 38,109.43. The Nasdaq Composite lost 55.13, or 0.4 per cent, to 15,455.36.
The US dollar rose and the euro sank to almost a seven-week low.
In Europe, the broad STOXX 600 index briefly touched a fresh two-year high and traded slightly higher on the day.
Britain’s FTSE 100 was flat at 7,632.74. France’s CAC 40 added less than 0.1 per cent at 7,640.81. Germany’s DAX lost 0.1 per cent at 16,941.71.
In Asian stock markets, Hong Kong’s Hang Seng Index rose 0.8 per cent at 16,077.24. China’s Shanghai Composite lost 0.9 per cent at 2,883.36.
Japan’s Nikkei 225 added 0.8 per cent at 36,026.94.
Oil prices rose on Monday after a drone attack on US forces in Jordan added to supply disruption concerns in the Middle East.
Brent crude futures gained 21 cents to $83.76 a barrel by 1117 GMT while US West Texas Intermediate crude futures edged up by 21 cents to $78.22.
Gold prices strengthened on Monday on growing concerns over the Middle East tensions.
Spot gold gained 0.5 per cent to $2,029.10 an ounce by 1325 GMT and US gold futures were up 0.6 per cent at $2,029.50.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!