Stocks traded lower on Monday, with the S&P 500 steadying below last week’s record level as traders awaited a Federal Reserve monetary policy decision later this week.
The three major indexes declined. U.S. crude oil prices dipped to trade near $71 per barrel. Treasury yields fell across the long end of the curve, and the benchmark 10-year yield held below 1.5%. Bitcoin prices ticked down to trade below $48,000.
Shares of heavily weighted U.S. equity index component Apple (AAPL) added to gains to set a fresh all-time intraday high. The stock’s market capitalization inched near $3 trillion, and was within 2% of this level as of Friday’s close.
Investors’ focus this week will be on the Federal Reserve’s December policy-setting meeting, which will take place between Tuesday and Wednesday. A new monetary policy statement and press conference with Fed Chair Jerome Powell are due…
