Dow and S&P remain weak

Stocks were still in the red with less than half an hour to the close on Wall Street.

The major US stock index benchmarks were off their lows late in the trading session, with the NASDAQ 100 closest to breaking even, down just 0.1% at 3073, helped by a 4% rise in Facebook, which is still benefitting from its strong quarterly report that it released last week.

The Dow Jones was down 0.23% while the S&P 500 fell 0.27%. The volatility index rose more than 1%, suggesting edginess in the market ahead of central bank meetings this week from the FOMC , the ECB and the Bank of England.

With no news from the Fed until late on Wednesday, the financial markets are likely to remain nervy and possibly quite choppy until then.

Of course, the central bank meetings are far from the only things going on this week. Although reports have been fairly light for the last couple of trading sessions, we are in the middle of the US reporting season. This week will not be as packed with as many big names reporting as last, but tomorrow we will hear from Dow components Merck and Pfizer, among others.

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