U.S. close: Stocks end mostly higher as investors eye earnings season

Judith Bessette
Julho 11, 2017

Crude oil was about 0.41 percent higher with prices over $44 per barrel.

Trump has made all the efforts to roll back Obamacare that faced growing difficulties on Monday as Republicans remained separated over how to cut the costs of their planned healthcare bill and forbid millions from losing coverage.

USA stocks ended mostly higher on Monday, with technology issues pacing the advance as investors braced for the start of earnings season and looked ahead to a speech by Fed Chair Janet Yellen later in the week.

In a significant victory for the banking industry, the Federal Reserve late last month approved plans from the 34 largest U.S. banks to use extra capital for stock buybacks, dividends and other purposes.

"The way I see what's happening today is just a little bit of rotation occurring where you're selling leadership and you're buying undervalued, or you're hunting for value".

Markets closed on a high on Friday after a payrolls report gave investors more confidence in the strength of the United States economy.

Stock Markets Helped by Healthy US Economy
The G-20 meeting over this past weekend in Hamburg, Germany did not create any significant impact on Monday's financial markets. On Monday data showed that exports from Germany, the biggest economy in Europe, increased stronger than was expected during May.

Last Friday, US stocks rallied as Wall Street cheered over the country's much-better-than-expected jobs report for June.

In addition, Federal Reserve Chair Janet Yellen will give her semi-annual monetary policy testimony before the House Financial Services Committee on Wednesday and Thursday.

The Dow Jones Industrial Average fell 5.82 points, or 0.03 per cent, to end at 21,408.52, the S&P 500 gained 2.25 points, or 0.09 per cent, to 2,427.43 and the Nasdaq Composite added 23.31 points, or 0.38 per cent, to 6,176.39.

Abercrombie & Fitch shares were down 19 percent at $9.85 after the teen apparel retailer terminated discussion on a potential deal following a review.

Declining issues outnumbered advancers on the New York Stock Exchange by 1,359 to 1,255.

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