- Peter Kenny, managing director at Knight Capital
U.S. stocks were flat on Monday.
The Standard & Poor's 500 gained 0.02%, or 0.22 points, to 1,371.09. The Dow Jones Industrial Average grew 0.29%, or 37.69 points, to 12,959.71. The Nasdaq Composite Index, on the other hand, lost 0.16%, or 4.69 points, to 2,983.66.
"This is definitely the market in pause mode, looking for anything out of the FOMC which is going to give the market some sort of direction in terms of - not rates so much because that is a foregone conclusion - but direction in terms of guideposts for rate change," said Peter Kenny, managing director at Knight Capital In Jersey City, New Jersey.
"Let's not forget we are up very nicely for the year, and we are not up without good reason - earnings have been good, there had definitely been some modest improvement in the domestic economy as evidenced by Friday's jobs number - and the market needs to digest that."
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