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Stocks closed out another quiet session with modest losses, as investors maintained a wait-and-see approach to the Federal Reserve policy decision tomorrow and the ECB meeting on Thursday.
The Dow Jones Industrial Average, S&P 500and Nasdaq all finished lower on the day. The Dow lost 64.33 points, or 0.49 percent, to close at 13008.68, while the S&P 500 lost 5.98 points, or 0.43 percent, to close at 1379.33. The Nasdaq lost 6.32 points, or 0.21 percent, to end at 2939.52.
For July, the Dow gained 1 percent, despite the fact that down days far outnumbered up days. The S&P rose 1.3 percent during the month, while the Nasdaq edged up 0.15 percent.
Dow component Pfizer led the blue-chip gainers today, while Home Depot lagged.
The S&P telecom and tech sectors gained, while consumer discretionary and energy stocks fell.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded above 18.5.
Despite more encouraging economic data, investors appeared unwilling to make any big moves ahead of the central bank meetings this week. "After the big rally last week, investors are catching their breath ahead of the Fed, and more importantly, the ECB," Ryan Detrick of Schaeffer's Investment Research said.
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