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NASDAQ ends at record closing high ahead earnings season

NASDAQ ends at record closing high ahead earnings seasonUS market stocks ended mostly lower ahead of major earnings season in this week and Federal Reserve updates. The tech-heavy Nasdaq Composite Index hit its record closing high and ended higher by 23 points to 6,410. The Dow Jones Industrial Average declined by 66 points to 21,513. The S&P 500 closed marginally lower by 2 points at 2,469.

Around 180 constituents of S&P 500 index are expected to report their earnings in this week. Wall Street also got ready for the latest monetary policy announcement from the Federal Reserve. The central bank is largely anticipated to keep interest rates unchanged, having hiked in their previous meeting.

Investors were also cautious on the back of meeting of OPEC and Non-OPEC member countries in Russia to discuss their compliance of production cuts. It was expected that the oil productions from Nigeria and Libya would be capped for short time.