U.S. stock indices gained only slightly on Monday. Energy stocks were the biggest negative contributors.
Morgan Stanley raised concerns over quarterly earnings of U.S. companies after it reported a profit of $1.02 billion, or 48 cents a share compared with the $1.69 billion, or 83 cents a share a year ago.
This week 117 companies of the S&P 500 will publish their reports. A median forecast suggests a 6.7% decline in profits in the third quarter. Energy and commodity companies are likely to report the weakest results.
The Dow Jones Industrial Average climbed 14.57 points, or less than 0.1%, to 17,230.54. The S&P 500 advanced by less than a point to 2,033.66 (its energy sector fell by 1.9%). The Nasdaq Composite Index climbed 18.78, or 0.4%, to 4,905.47.
This morning in Asia Hong Kong Hang Seng declined 0.48%, or 110.63, to 22,964.98. China Shanghai Composite Index lost 0.09%, or 2.96, to 3.383.75. The Nikkei rose 0.44%, or 79.17, to 18,210.40.
Asian indices posted mixed results.
Japanese stocks advanced amid a weaker yen, which is favorable for exporters. Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group gained more than 1% each.