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Stocks close mixed after trading in narrow range; traders await news from meetings in Europe
U.S. stocks are closing mixed after trading in a narrow range for most of the day. Investors are awaiting news from Europe later this week.
The European Central Bank will make an announcement on interest rates Thursday. Traders hope the ECB will signal its willingness to step in and help shore up heavily indebted European nations.
European leaders will wrap up a summit on Friday at which they will discuss closer coordination of their budgets.
The Dow closed up 46 points, or 0.4 percent, at 12,196. The S&P 500 closed up 3, or 0.2 percent, at 1,261. The Nasdaq closed down a fraction of a point at 2,649.
Advancing stocks narrowly outnumbered declining stocks on the New York Stock Exchange. Trading volume was below average at 4.1 billion shares.