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US stocks close mixed

New York, July 11 (IANS) US stocks closed mixed as investors got ready for the latest earning season.

The Dow Jones Industrial Average on Monday lost 5.82 points, or 0.03 per cent, to 21,408.52. The S&P 500 gained 2.25 points, or 0.09 per cent, to 2,427.43, Xinhua news agency reported.

The Nasdaq Composite Index increased 23.31 points, or 0.38 per cent, to 6,176.39.

Performance of large banks will come into the spotlight later this week as JPMorgan Chase, Citigroup and Wells Fargo are set to report their earnings.

Meanwhile, Wall Street is also waiting for earning reports from large-cap technology companies.

There are no major economic data due Monday. Major inflationary and retail sales data will due out by the end of this week.

In addition, Federal Reserve Chair Janet Yellen will give her semi-annual monetary policy testimony before the House Financial Services Committee on Wednesday and Thursday.

Last Friday, US stocks rallied as Wall Street cheered over the country’s much-better-than-expected jobs report for June.

Last week, all three major indices posted modest gains, with the Dow, the S&P 500 and the Nasdaq going up 0.3 per cent, 0.1 per cent and 0.2 per cent, respectively.

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