NEW YORK (AP) — A blistering July rally on the stock market appears to be fading.
Stocks edged lower Monday as investors waited for a series of major economic reports due out this week. A string of big-name merger deals wasn’t enough to push indexes higher.
On Wednesday the government will report its first estimate of U.S. economic growth for the second quarter, and on Friday it will publish its monthly jobs survey.
Both reports will give investors a better idea about the strength of the economy and what’s next for the Federal Reserve’s stimulus program. Investors will hear from the Fed on Wednesday after the central bank winds up a two-day policy meeting.