The Dow Jones Industrial Average traded flat on Monday, as investors shifted their focus to a deluge of quarterly results from several blue chips.
The blue-chip index ended at 21,629.72, where it was little changed from Friday’s close. The benchmark traded within a 45-point range, which included a fresh intraday high in the early afternoon.
Dow companies led Wall Street higher last week, with the benchmark index recording three straight record-setting rallies.
On Monday, 13 of 30 index members finished higher. Microsoft Corp (NASDAQ: MSFT) and The Home Depot Inc. (NYSE: HD) led the gainers.
On the opposite side of the spectrum, IBM Corp (NYSE: IBM) and JPMorgan Chase & Co (NYSE: JPM) were the biggest decliners.
JPMorgan reported earnings on Friday that were much higher thane expected, but its shares declined after the bank lowered its net interest income forecast for the year.
Several Dow companies will release quarterly results this week, including Goldman Sachs Group Inc. (NYSE: GS), Microsoft, General Electric Co (NYSE: GE), American Express Co (NYSE: AXP), Visa Inc. (NYSE: V) and Travelers Cos (NYSE: TRV).
The broader S&P 500 Index also finished flat Monday, closing at 2,459.14. The technology-heavy Nasdaq Composite Index finished at 6,314.43, unchanged from Friday’s close.
European stocks also struggled for gains at the start of the week, even as mining shares logged a higher finish. The pan-European Stoxx 600 Index ended flat at 386.86. Most national bourses were down, with Germany’s DAX Index falling 0.4% to 12,587.16.
The U.K.’s FTSE 100 Index was the only exception. It rose 0.4% to close at 7,404.13.
Dow Jones Industrial Average