S&P, Dow Lower as Johnson & Johnson Drags
(Reuters) - The S&P 500 and the Dow Jones Industrial Average were pulled lower by losses in Johnson & Johnson in late morning
trading on Monday, while the Nasdaq was little changed ahead of Google parent Alphabet’s earnings report later in the day.
"For now, better earnings is giving the market the ability to navigate some of the uncertainty
that is coming out of Washington but going into next year, the market is likely to become more concerned if policies do not finally come through," added Miskin.
Matt Miskin said that This week is going to be critical to see the passing of the baton
from the Fed being the primary driver of the market to corporate fundamentals,
ET, (1503 GMT), the Dow Jones Industrial Average was down 68.05 points, or 0.32 percent,
at 21,512.02, the S&P 500 was down 5.43 points, or 0.21 percent, at 2,467.11.
Analysts have raised their expectations for S&P 500 earnings to 8.8 percent, compared with an
8 percent rise projected at the start of the month, according to Thomson Reuters I/B/E/S.
The market will also keep an eye on political developments in Washington, with rising doubts about President
Donald Trump’s ability to legislate his pro-growth policies after the failure of the healthcare bill.
