U.S stock closed little changed in light trading, near the highest levels this year, as investors awaited further assurances that central banks will continue to support growth.
Gains in consumer shares, including Amazon.com Inc., Starbucks Corp. and Walt Disney Co., offset declines in energy and raw-materials companies, with commodity shares lagging Monday as crude oil fell. Starwood Hotels & Resorts Worldwide Inc. added 7.9 percent after an unsolicited takeover offer from a group of companies led by by China’s Anbang Insurance Group Co.
The Standard & Poor’s 500 Index fell 0.1 percent to 2,019.58 at 4 p.m. in New York, closing above its average price during the past 200 days for a second session.
The Federal Reserve’s two-day meeting this week will be in focus for indications on the trajectory of interest rates, after equities on Friday surged in the wake of additional stimulus steps from the European Central Bank. The Bank of Japan concludes a policy review Tuesday, while the Bank of England has a rate decision Thursday. Central banks have indicated a willingness to continue measures to boost growth and stabilize markets, helping buttress a comeback for U.S. stocks in the past month.
Source : Bloomberg