Stocks Opened Mixed as Q2 Earnings Season Began

U.S. stocks opened mixed on Monday, as investors awaited results from major companies set to report quarterly results in the weeks ahead. The Dow Jones Industrial Average lately fell 25.30 points, or 0.09%, to 27,306.73. The S&P 500 retreated 2.29 points, or 0.08%, to 3,011.48. The Nasdaq Composite was off 0.97 point, or 0.01%, to 8,243.17.

Oil futures climbed modestly Monday as crude prices scored a modest lift in the wake of Hurricane Barry in the Gulf of Mexico. August West Texas Intermediate crude rose 28 cents, or 0.5%, to reach $60.49 a barrel. September Brent rose 49 cents, or 0.7%, at $67.021 a barrel.

Second-quarter earnings season kicks off this week, with big banks and several major tech names poised to report.

Market participants will also be watching for a host of Federal Open Market Committee members set to speak in public remarks this week ahead of the Federal Reserve’s meeting at the end of the month.

Banking giant Citigroup (C) reported earnings results before-the bell that topped Wall Street expectations. Adjusted earnings were $1.83 per share in the second quarter on $18.8 billion in revenue, beating expectations for adjusted EPS of $1.80 per share on sales of $18.52 billion.

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