(NEW YORK) — Stocks closed lower Tuesday ahead of two crucial meetings this week. Still, the Dow closed the month with gains for the ninth time in 10 months.
Despite posting a 1 percent increase for July, the Dow Jones Industrial closed at 13,008 — a 64-point loss for Tuesday’s session. The Nasdaq and the S&P gave up six points each, closing at 2,940 and 1,379, respectively. Just the same, the two indexes also advanced in July. The Nasdaq gained 0.2 percent, while the S&P added 1.3 percent for the month.
Tuesday marked the first of two days of meetings for the Federal Reserve’s policy-setting committee. Meetings for the European Central Bank and the Bank of England will finish up Thursday. Trading remained narrow as investors wait for this week’s important meetings to draw to a close.
Copyright 2012 ABC News Radio
Jacqueline Howard, CNN
Herb Scribner, Deseret News