The Dow industrials slipped 19.31 points, or 0.1%, to 18,473.75, weighed down by shares of McDonalds Corp., which closed 4.5% lower.
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Long seen as a barometer of the USA economy, the Dow Jones transport average .DJT is closely watched as part of the “Dow Theory”, which tracks performance of both the industrials and the transports to confirm major trends in the stock market.
The Dow is up 1,047.14 points, or 6 percent. The National Index posted a month-over-month gain of 0.2 percent increase in May, while the 10-City and 20-City Composites recorded decreases of 0.2 percent and 0.1 percent, respectively.
Traders will also focus on earnings, with 45 companies in the S&P 500 scheduled to report results on Tuesday, including Apple Inc. The social media company reported another loss and said user adoption rates continue to slow.
ANZ’s analysts said the lack of movement was a function of the pending outcome of the US Federal Reserve Open Market Committee’s (FOMC) latest interest rate setting meeting.
PLUCKED: Twitter plunged $2.21, or 12 percent, to $16.25. Revenue at the world’s largest company by market value also fell, yet topped Wall Street’s forecasts. Brent crude, used to price worldwide oils, fell 99 cents to $43.87 a barrel in London.
The latest report from S&P Dow Jones Indices shows South Florida’s home prices rose moderately in May, though it was still one of the nation’s top 10 markets for swelling housing costs.
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European stocks were higher while Asian markets were mixed – with the Nikkei up 1.7%, but Shanghai down 1.9% – as investors digested conflicting reports (http://www.marketwatch.com/story/dollar-rises-against-yen-amid-conflicting- reports-about-japan-stimulus-2016-07-27) about the Japanese government’s soon-to-be-released stimulus measures. Energy stocks were among the biggest decliners as oil prices fell.
