US stock indices closed mixed on Monday, with the Dow Jones Industrial Average rising 195.6 points to 51,850 while the Nasdaq and S&P 500 slipped as investors turned their attention to third-quarter earnings.
Banks lead reporting season
The Nasdaq fell 0.44 percent to close at 27,245. The S&P 500 edged down 0.06 percent to 7,807. JPMorgan Chase, Goldman Sachs, Citigroup, Wells Fargo and UnitedHealth were scheduled to report results before Tuesday’s market open.
Analysts polled by FactSet expect S&P 500 constituent earnings to grow by about 30 percent compared with the same period last year. Ameriprise’s Anthony Saglimbene discussed the earnings outlook in remarks to CNBC.
Data and Fed speakers ahead
US inflation data for September is due toward the end of the week. Investors were also watching existing home sales figures, along with remarks expected Tuesday from Federal Reserve officials Christopher Waller, Tom Barkin and Susan Collins.
By MacroHerald’s own measurement, the S&P 500 closed 12 October at 7,805.36 points, down 0.08 percent from the previous close and near its 31-day high. The Dow Jones Industrial Average closed the same session at 51,861.46 points, up 0.40 percent.
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Source: Federal Reserve | Data: S&P Dow Jones Indices
