U.S. stocks end mixed ahead of key earnings reports, Fed meeting

New York (US), July 26: U.S. stocks finished mixed on Monday as investors braced for earnings reports from big tech names and a key decision from the Federal Reserve.
The Dow Jones Industrial Average increased 90.75 points, or 0.28 percent, to 31,990.04. The S&P 500 rose 5.21 points, or 0.13 percent, to 3,966.84. The Nasdaq Composite Index decreased 51.45 points, or 0.43 percent, to 11,782.67.
Eight of the 11 primary S&P 500 sectors ended in green, with energy and utilities up 3.71 percent and 1.26 percent, respectively, outpacing the rest. Consumer discretionary slipped 0.85 percent, the worst-performing group.
The U.S. second-quarter earnings season continues this week with big tech earnings including Apple, Amazon, Microsoft and Alphabet to be on center stage.
Investors also eyed on the Fed as the U.S. central bank is expected to deliver another sizable rate hike when concluding its two-day policy meeting Wednesday.
"The market's main question is how far the Fed will have to hike rates before it is convinced that it has gained control over inflation," Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management, said in a note on Monday.
"The pace of hikes remains uncertain as we get into the fall," and "this uncertainty is likely to keep volatility elevated," said the analyst.
Last week, the Dow rose 2 percent, the S&P 500 climbed nearly 2.6 percent, and the Nasdaq added 3.3 percent, bolstered by better-than-expected corporate earnings.
Source: Xinhua