Investing.com - U.S. stocks opened mixed to lower on Monday, as markets were jittery amid ongoing uncertainty over whether the Federal Reserve will soon begin scaling back its stimulus program.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.11%, the S&P 500 index dipped 0.04%, while the Nasdaq Composite index rose 0.34%.
Investors remained cautious ahead of the minutes of the Fed's July meeting, due out on Wednesday, for further indications as to when the central bank may start to unwind its USD85 billion-a-month asset purchase program.
Expectations that the Fed may begin tapering as soon as September were boosted late last week after data showed that U.S. weekly jobless claims fell to an almost six year low.
In the financial sector, JPMorgan Chase tumbled 1.31%, after weekend reports that U.S. authorities have opened a bribery investigation into whether the bank hired the children of Chinese officials to help it win lucrative business.
In earnings news, Saks posted a wider-than-expected quarterly loss after weak sales of shoes and handbags caused the department store chain to mark down prices, although shares were still up 0.12%.
In July, Saks reached a deal to be acquired by Canada's Hudson's Bay.
The report came after Macy's, Nordstrom, Kohl's and Wal-Mart posted lower-than-expected sales last week. In July, Saks reached a deal to be acquired by Canada's Hudson's Bay.
Other stocks likely to be in focus included Urban Outfitters and Bob Evans, scheduled to post results later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 dropped 0.82%, France’s CAC 40 retreated 0.80%, Germany's DAX slipped 0.17%, while Britain's FTSE 100 slumped 0.44%.
During the Asian trading session, Hong Kong's Hang Seng Index fell 0.24%, while Japan’s Nikkei 225 Index climbed 0.79%.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.11%, the S&P 500 index dipped 0.04%, while the Nasdaq Composite index rose 0.34%.
Investors remained cautious ahead of the minutes of the Fed's July meeting, due out on Wednesday, for further indications as to when the central bank may start to unwind its USD85 billion-a-month asset purchase program.
Expectations that the Fed may begin tapering as soon as September were boosted late last week after data showed that U.S. weekly jobless claims fell to an almost six year low.
In the financial sector, JPMorgan Chase tumbled 1.31%, after weekend reports that U.S. authorities have opened a bribery investigation into whether the bank hired the children of Chinese officials to help it win lucrative business.
In earnings news, Saks posted a wider-than-expected quarterly loss after weak sales of shoes and handbags caused the department store chain to mark down prices, although shares were still up 0.12%.
In July, Saks reached a deal to be acquired by Canada's Hudson's Bay.
The report came after Macy's, Nordstrom, Kohl's and Wal-Mart posted lower-than-expected sales last week. In July, Saks reached a deal to be acquired by Canada's Hudson's Bay.
Other stocks likely to be in focus included Urban Outfitters and Bob Evans, scheduled to post results later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 dropped 0.82%, France’s CAC 40 retreated 0.80%, Germany's DAX slipped 0.17%, while Britain's FTSE 100 slumped 0.44%.
During the Asian trading session, Hong Kong's Hang Seng Index fell 0.24%, while Japan’s Nikkei 225 Index climbed 0.79%.