- Stocks ended mixed in lackluster trading, as investors hesitated to jump in after a batch of inconclusive earnings reports and ahead of the Fed's policy meeting later this week.
- Most of the earnings action was centered in the health care sector, where Merck fell 2.5% after beating on the bottom line but falling short on revenue estimates, and Biogen rose following a solid report; Bristol Myers also was strong after announcing positive clinical trial data.
- So far, half of S&P 500 companies have reported quarterly results, with 69% beating earnings expectations and 54% beating on revenues; if all remaining companies post earnings in line with estimates, earnings will rise 3.4% from last year's Q3.
- Treasury prices eased despite a two-year-note auction that drew the highest demand in a year.