Stocks on Wall Street gave up early gains and closed slightly lower Monday as investors began another busy week of company earnings and economic reports.
The S&P 500 gave up an early gain to end down 0.3 percent. The Dow Jones Industrial Average dipped 0.1 percent and the Nasdaq fell 0.2 percent. Smaller company stocks also gave back some of their recent gains, nudging the Russell 2000 0.1 percent lower.
Bond yields mostly fell. The yield on the 10-year Treasury, which influences mortgage rates, fell to 2.60 percent from 2.65 percent late Friday.
August’s subdued opening follows a solid rally for stocks last month: July was the best month for the S&P 500 index since November 2020. But this week’s array of economic reports and company earnings has left traders “a little cautious,” said Lindsey Bell, chief markets and money strategist at Ally Invest….