Investing.com – U.S. stocks closed mixed on Monday, as markets mulled over comments from Federal Reserve officials while a softer tone on protectionism from G20 financial leaders at the weekend weighed on upside momentum.
In what was quiet day for top-tier economic releases, investors turned attention to comments from Federal Reserve officials, after the US central bank last Wednesday, maintained its previous outlook of two more rate hikes in 2017.
Chicago Federal Reserve President Charles Evans said Monday, four rate hikes could be a possibility if “things really pick up” and pointed out the economic fundamentals are “solid”.
Meanwhile, a policy statement from G20 financial leaders at the weekend, weighed on upside momentum, after the group of twenty dropped a pledge to keep global trade free and open.
In corporate news, shares of Snap Inc (NYSE:SNAP) closed 2% higher at $19.93, after the social media company received its first ‘buy’ rating from equity research firm Monness Crespi Hardt while shares of Apple Inc (NASDAQ:AAPL) printed a new-all-time high intraday, amid growing optimism concerning iPhone 7 sales and rising service revenues.
The Dow Jones Industrial Average closed 0.04% lower at 20,905. The S&P 500 shed 0.22% and the Nasdaq Composite closed higher at 5,901. The Dow has closed lower for three straight sessions.
The top S&P 500 gainers included Advanced Micro Devices Inc (NASDAQ:AMD) up 7%, and CF Industries Holdings Inc (NYSE:CF) up 3.8%, while NVIDIA Corporation (NASDAQ:NVDA) added 3.3%.
Kohl’s Corporation (NYSE:KSS) down 4.8%, Macy’s Inc (NYSE:M) down 3.8% Nordstrom Inc (NYSE:JWN) slumped 3.1%, were among the worst S&P 500 performers of the session.