Stocks Waver Ahead of Two Key Central Bank Meetings This Week

U.S. stocks fluctuated on Monday, after the S&P 500 reached a fresh record closing high on Friday, as investors awaited meetings from central banks this week.

Author:: Scott Gamm
Publish date:: Jul 25, 2016 10:35 AM EDT

U.S. stocks fluctuated on Monday, after the S&P 500 reached a fresh record closing high on Friday, as investors awaited meetings from the Federal Reserve and Bank of Japan this week. David Nelson, chief strategist at Belpointe Asset Management, said the record levels in the S&P 500 are justified, given the record low yields in global sovereign debt. Sprint (S) - Get Report shares rose despite posting a larger per-share loss than the same quarter a year ago. Revenue of $8.01 billion eclipsed estimates of $7.99 billion. The wireless carrier added 377,000 subscribers during the quarter. Amazon's (AMZN) - Get Report price target was raised to $835 from $775 by the analysts at Wedbush Securities, citing expectations that Amazon is set to 'deliver substantial earnings growth.' The stock currently trades near $745 a share. The company reports earnings for its latest quarter on Thursday. TheStreet's Scott Gamm reports from Wall Street.