US stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings. Investors were waiting for some of the biggest S&P 500 companies, including Boeing Co, Amazon.com and Facebook to report first-quarter results later in the week. Additional reports could ease investor fears of an earnings recession.
Trading volume – which was the lowest so far in 2019 – was also muted by the fact that some investors were still on vacation after Friday’s US market holiday and because markets were closed in parts of Europe and Asia on Monday. Orlando was impressed with the latest GDPNow forecast from the Atlanta Federal Reserve for a first-quarter expansion of 2.8 per cent compared with a 0.2 per cent forecast a month ago. But more than three-quarters of 82 S&P 500 companies that have reported so far have surpassed beaten-down expectations.
With the S&P trading at less than 1 per cent below its record high reached in September, investors were also waiting for upcoming data such as first-quarter GDP before making bigger bets. The Dow Jones Industrial Average fell 48.49 points, or 0.18 per cent, to 26,511.05, the S&P 500 gained 2.94 points, or 0.10 per cent, to 2,907.97 and the Nasdaq Composite added 17.21 points, or 0.22 per cent, to 8,015.27.Morning-Market-Note-Tuesday-23rd-April