FYI: U.S. stocks paused Monday as investors looked ahead to a key Federal Reserve meeting that many anticipate will result in the first rate cut since 2008.
The Dow Jones Industrial Average rose 34 points, or 0.11%, to 27221. The S&P 500 fell 0.16% and the Nasdaq Composite lost 0.44%.
Stocks have flirted with records for much of the summer as investors have bet on the Fed lowering interest rates by as much as 50 basis points at the end of its July 30-31 meeting.
Bets on a rate cut have helped buoy stocks, even as data have shown the domestic and global economy slowing
.Investors will get a fresh look Tuesday at the Fed’s preferred inflation gauge, the price index for personal-consumption expenditures, as well as the Labor Department’s monthly employment report Friday.
Declines in technology shares pulled the Nasdaq lower Monday, with Twitter and Snap losing 0.9% apiece and Alphabet falling 0.7%. The S&P 500 technology sector has jumped 5.1% so far in July, far outpacing the broader S&P 500’s 2.6% gain.
Meanwhile, deal news and earnings drove swings among individual stocks.
Mylan shares jumped 9.2% after Pfizer agreed to merge its off-patent drugs business with the generic drugmaker, creating a global seller of lower-price medicines in an increasingly competitive business.
Pfizer dropped 2.4%.
Booz Allen Hamilton rose 2.8% after reporting better-than-expected earnings.
Elsewhere, the Stoxx Europe 600 edged up 0.3% as broad gains helped offset losses in the banking and autos & parts sectors.
The British pound slid 1% against the U.S. dollar, trading around its lowest since 2017, after political leaders said they would increase their preparations for leaving the European Union without a deal on October 31.
Hong Kong’s benchmark Hang Seng Index was down 1% as protests in the city have grown increasingly violent, triggering concerns about the impact tensions with Beijing could have on the local economy.
South Korea’s Kospi lost 1.8% Monday. The country has felt the brunt of the trade dispute between the U.S. and China this year, with the added blow of fresh trade restrictions from Japan.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-07-29/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-futures-tread-water-ahead-of-packed-week-of-fed-decision-jobs-report-and-tariff-talks-2019-07-29/printWSJ:
https://www.wsj.com/articles/global-stocks-waver-as-trade-talks-set-to-resume-11564387653Bloomberg:
https://www.bloomberg.com/news/articles/2019-07-28/stocks-look-mixed-with-trade-talks-fed-in-focus-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-leads-stock-market-as-apple-disney-score-gains/CNBC:
https://www.cnbc.com/2019/07/29/stock-market-wall-street-investors-prepare-for-fed-rate-cut.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/wall-street-eases-from-record-highs-as-tech-drags-fed-meeting-eyed-idUKKCN1UO1EAU.K:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-shoots-to-11-month-high-on-pound-dip-ma-idUKKCN1UO0QZEurope:
https://uk.reuters.com/article/uk-europe-stocks/europe-stocks-inch-higher-on-uk-merger-action-idUKKCN1UO0QRAsia:
https://www.cnbc.com/2019/07/29/asia-stocks-us-china-trade-oil-currencies-in-focus.htmlBonds:
https://www.cnbc.com/2019/07/29/us-bonds-treasury-traders-look-ahead-to-a-fed-meeting.htmlCurrencies:
https://www.cnbc.com/2019/07/29/forex-markets-dollar-us-gdp-in-focus.htmlOil:
https://www.cnbc.com/2019/07/29/oil-markets-iran-nuclear-talks-in-focus.htmlGold:
https://www.cnbc.com/2019/07/29/gold-markets-federal-reserve-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
