Investing.com – Wall Street was mixed on Monday, as investors waited for earnings results from Google parent company Alphabet amid worry over slowing economic growth in China.
Alphabet (NASDAQ:GOOGL) was up 1% ahead of its quarterly results after the close. Almost half of the S&P 500 companies that have reported earnings so far, with 70.9% beating analysts' expectations, below the last four quarters average of 72%.
The S&P 500 fell 1 point, or 0.04%, as of 9:32 AM ET (14:32 GMT), while the Dow lost 24 points, or 0.10%, and the tech-heavy Nasdaq Composite gained 11 points, or 0.16%.
Still, Wall Street held onto gains after its best January in 30 years amid progress in U.S.-China trade talks and after the Federal Reserved showing signs of slowing down its rate of monetary policy tightening.
Technology stocks were higher, with Netflix (NASDAQ:NFLX) up 1% and Apple (NASDAQ:AAPL) gaining 1.4%. Nvidia (NASDAQ:NVDA) rose 1.5%, while Boeing (NYSE:BA) increased 1.1%.
Tesla (NASDAQ:TSLA) slumped 1.8% after news that it is buying battery maker Maxwell Technologies for $218 million. Exxon Mobil (NYSE:XOM) dipped 1.1% while Visa (NYSE:V) fell 0.4% and semiconductor company Micron (NASDAQ:MU) was down 1.7%.
In commodities, gold futures fell 0.5% to $1,315.55 a troy ounce, but remained near 6-month highs, while crude oil fell 1.8% to $54.19 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.35% to 95.637.