PHG - S&P Ekes Higher by Noon
U.S. equities wavered on Monday, coming off a positive week for the major averages as traders braced for the busiest week of corporate earnings, as well as insights into further interest rate hikes from the Federal Reserve.
The Dow Jones Industrials acquired 95.71 points to reach noon hour Monday at 31,995.
The S&P 500 made its way higher 8.09 points to 3,969.72.
The NASDAQ dipped 36.26 points, to 11,797.85.
All three of the indexes are on track for their best month of the year.
Monday starts the final week of trading for the month of July — and perhaps the most important week of the summer — with the Fed meeting, GDP data and earnings from almost a third of the S&P 500 on deck.
Investors are still worried about the potential of an economic recession and are hoping this week's news storm will help direct their expectations.
Shares of Newmont Corporation slid 10% after the mining company reported a quarterly loss that was down nearly 41% from a year ago, hurt by a drop in gold prices.
Philips tumbled 6% after the Dutch medical equipment maker reported weaker-than-expected quarterly earnings, citing lockdowns in China and supply chain issues.
Treasury prices fell, raising yields to 2.82%, from Friday's 2.76%. Treasury prices and yields move in opposite directions.
Oil prices hiked $1.49 to $96.19 U.S. a barrel.
Gold prices dropped $10.70 to $1,716.70 U.S. an ounce.