Forexpros – U.S. stocks were mixed on Monday, as investors eyed the Federal Reserve and European Central Bank’s policy meetings this week, amid speculation the central banks may signal fresh stimulus measures to support growth.
During early U.S. trade, the Dow Jones Industrial Average rose eased 0.05%, the S&P 500 index inched 0.05% lower, while the Nasdaq Composite index climbed 0.57%.
Investors were eyeing the outcome of the Fed’s policy meeting on Wednesday, amid speculation over whether the bank will hint at further easing measures after a string of mixed U.S. data failed to reassure investors over the strength of the country’s economic recovery.
Meanwhile, expectations that the ECB is set to announce fresh policy measures to tackle the long running crisis in the euro zone mounted after bank head Mario Draghi pledged Thursday to do whatever is necessary to preserve the euro.
German Chancellor Angela Merkel and French President Fran?ois Hollande vowed to defend the euro in a joint statement on Friday and said that they are “deeply committed to the integrity of the euro zone.”
Apple saw shares surge 1.62%, as a jury selection was due to begin on a high stakes patent battle between the iPhone maker and Samsung Electronics, after more than a year of pretrial struggling.
Separately, Reuters refuted rumors that Apple and Twitter are currently in discussions on the mobile technology giant taking a stake in the popular social networking site.
Also in company news, Boeing said on Sunday that The National Transportation Safety Board is investigating an issue with an engine on a 787 Dreamliner, sending shares down 0.41%. The investigation was announced following an incident at Charleston International Airport during a preflight test on Saturday.
Elsewhere, General Motors also retreated 0.81% after announcing the resignation of its global marketing chief Joel Ewanick, a little more than two years after he joined the company to lead an overhaul of the company’s marketing strategy.
Ewanick chose to leave because he didn’t “meet the company’s expectations of an employee,” Bloomberg reported, citing an e-mailed statement by GM.
In the energy sector, Chevron edged down 0.09%, a day after the oil and gas major announced plans to invest USD2 billion to develop its Lianzi oilfield along the maritime border between Republic of Congo and Angola. Rival Exxon Mobil edged up 0.03%.
Meanwhile, financial stocks were broadly lower. Shares in JP Morgan tumbled 1.68% and Goldman Sachs declined 0.53%, while Bank of America and Citigroup fell 0.27% and 0.29% respectively.
Earlier in the day, Deutsche Bank JPMorgan to “hold” from “buy.”
Other stocks in focus included Anadarko Petroleum, Franklin Resources and Eastman Chemical Company, all due to report results later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 jumped 1.08%, France’s CAC 40 climbed 0.59%, Germany’s DAX advanced 0.82%, while Britain’s FTSE 100 rallied 0.88%.
During the Asian trading session, Hong Kong’s Hang Seng Index rallied 1.61%, while Japan’s Nikkei 225 Index advanced 0.8%.
Later in the day, U.S. Treasury Secretary Timothy Geithner was to meet with German Finance Minister Wolfgang Schaeuble and Mario Draghi to discuss the global economy.
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