U.S. Indexes Little Changed as Financial Stocks Drop; Bonds Flat

Snap Shares Fall Below IPO Price Amid Doubts Over Growth

U.S. stocks were steady as investors looked to the upcoming earnings season for cues about corporate health and the bond market was little changed.

The S&P 500 Index lost 0.1 percent to 2,425 at 10 a.m. in New York, as the Dow Jones Industrial Average and Nasdaq Composite were both little changed.

  • Financial stocks down 0.4% on losses in T Row Price Group and Charles Schwab
  • Tech shares little changed
  • Utility and staples stocks little changed as real estate loses 0.3%
  • 10-year Treasury up less than 1 bp
  • Volume in S&P 500 21% below 30-day average
  • Snap Inc. shares fell below their initial public offering price for the first time yesterday amid questions about the company’s ability to grow as fast as initially expected
  • ECONOMY:
    • U.S. June Small Business Optimism Falls to 103.6; Est. 104.4
  • EARNINGS:
    • S&P 500 companies grew profit by 6.3 percent in the second quarter, according to analyst estimates

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