NEW YORK (AP) - U.S. stocks wobbled and finished mostly lower Monday as investors waited for central bank meetings in the United States and Japan. Health care and technology companies took some of the biggest losses while banks rose.
Investors were indecisive as leaders of the Federal Reserve and Bank of Japan prepared to meet, and stocks swung several times between gains and losses. The Dow rose as much as 131 points early on, then fell as much as 30 points in the afternoon. Banks, utility companies and machinery makers rose. Bond yields edged higher and the dollar weakened.
Russ Koesterich, head of asset allocation with BlackRock's Global Allocation Fund, said investors don't expect the Fed to raise interest rates. However he said investors have more questions about the Bank of Japan's plans.
While advancing stocks far outnumbered decliners, the Dow Jones industrial average dipped 3.63 points, or less than 0.1 percent, to 18,120.17. The Standard & Poor's 500 index lost 0.04 points to 2,139.12. The Nasdaq composite fell 9.54 points, or 0.2 percent, to 5,235.03.
The Federal Reserve will meet today and announce its latest decision on interest rates the following day. Banks got a boost as some investors hoped interest rates will rise, which would allow banks to make more money from lending. JPMorgan Chase rose 37 cents to $66.19, and Wells Fargo regained 58 cents, or 1.3 percent, to $46.01.