Stocks Ended Mixed, Nasdaq Hit a Record

U.S. stocks ended mixed on Monday, with the Dow and the S&P 500 were modestly lower but the Nasdaq hit a record, as the market kicked off a busy week of earnings, Federal Reserve policy meeting and economic data. The Dow Jones Industrial Average dipped 66.90 points, or 0.31%, to 21,513.17. The S&P 500 fell 2.63 points, or 0.11%, to 2,469.91. The Nasdaq Composite gained 23.05 points, or 0.36%, to 6,410.81.

Oil ended higher Monday, as news that Saudi Arabia has pledged to lower crude exports and Nigeria plans to limit its production sent prices higher for the first time in three sessions. September West Texas Intermediate crude rose by 57 cents, or 1.3%, to settle at $46.34 a barrel. September Brent crude tacked on 54 cents, or 1.1%, to $48.60 a barrel.

Alphabet (GOOGL) reported a drop in second-quarter profit thanks to a $2.74 billion fine European antitrust regulators slapped on its Google unit. It reported EPS of $5.01 versus $4.49 expected and revenue: $26.01 billion, up from $21.5 billion a year ago.

Sundar Pichai has another job to do: serve on the board of directors for Alphabet, the parent company for Google. Pichai has been the CEO of Google since the creation of Alphabet in October 2015.