"There's not much going on as we look ahead to Jackson Hole…"
- Dan Veru, chief investment officer at Palisade Capital Management LLC
U.S. stocks closed mixed on Monday ahead of Jackson Hole Symposium as investors awaited signals on the next round of quantitative easing.
The Standard & Poor's 500 slid 0.05% to 1,410.44. The Dow Jones Industrial Average edged lower 0.25%, or 33.30 points, to 13,124.67. The Nasdaq Composite climbed 0.11 per cent to 3,073.19.
"There's not much going on as we look ahead to Jackson Hole, and we might make some new lows in terms of trading volume going into that as investors wait," said Dan Veru, chief investment officer at Palisade Capital Management LLC in Fort Lee, New Jersey.
"There's no great conviction in either direction," said Richard Sichel, chief investment officer at Philadelphia Trust Co. "People are looking ahead for Fed signals."
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