US stocks on Monday stepped back from last week’s record highs as investors took a breather ahead of an expected interest rate cut by the FederalReserve and looked for signs of progress from U.S.-China trade negotiations underway in Shanghai.
Amazon.com Inc and Facebook Inc weighed heaviest on the S&P 500 and the Nasdaq, which both closed lower. The blue-chip Dow closed in the black, led by 3M Co , Johnson & Johnson and Apple Inc.
Market participants girded themselves for an eventful week, with the FOMC meeting, US-China trade talks and nearly a third of the companies in the S&P 500 due to post second-quarter results.
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