Stocks face renewed pressure ahead of pivotal week for traders.
U.S. stocks traded mixed-to-lower on Monday, as investors shifted their attention to a slew of high-profile developments later in the week.
The S&P 500 Index (NYSEARCA:SPY) drifted between gains and losses before settling at 2,709.77, where it was up 0.1. Energy and industrials were the best-performing sectors. They were partially offset by communications services and utilities, which fell.
The Dow Jones Industrial Average (NYSEARCA:DIA) closed down 53.83 points, or 0.2%, at 25,052.50.
Meanwhile, the Nasdaq Composite Index (NYSEARCA:QQQ) gave up most of its gains to finish 0.1% higher at 7,307.90.
A measure of implied volatility known as the CBOE VIX (NYSEARCA:VXX) rose on Monday, notching its second gain in the past three days. VIX climbed 2.2% to settle at 16.06 on a scale of 1-100 where 20 represents the historic average.
Investors are bracing for a highly active week in the markets headlined by U.S.-China trade negotiations and a looming government shutdown in Washington. Congress must strike a new budget deal by Friday or risk shutting down the government for a second time since December. The last shutdown dragged on for 35 days, the longest on record.
Economic data are also in the spotlight this week, with reports on consumer inflation, industrial production and consumer confidence all scheduled for release between Wednesday and Friday.
The Final Word: Stock markets could be headed for a tumultuous period. It remains to be seen whether the major indices can sustain their rally following earnings season.