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Stocks pared most of their gains on Monday amid pressure from Boeing and Facebook, while investors braced themselves for a busy week highlighted by a key Federal Reserve meeting.
The Dow Jones Industrial Average dropped 24 points to 25,824.87
The S&P 500 hung onto 2.27 points to 2,824.75.
The NASDAQ Composite shied 0.4 points to 7,688.13
Boeing fell more than 2% after The Wall Street Journal reported the Department of Transportation and federal prosecutors were scrutinizing the development of the company's 737 Max planes. This comes after an Ethiopian Airlines flight involving the 737 Max 8 jet crashed last week.
Facebook shares also fell 2.8% after an analyst at Needham downgraded the company to hold from buy, citing worries about Facebook's pivot to privacy and encrypted messages as well as the possibility of more regulatory scrutiny.
Investors braced themselves for a busy week highlighted by a Federal Reserve meeting that kicks off on Tuesday. Market expectations for a rate hike are at zero, according to the CME Group's FedWatch tool. However, investors will look for clues about the central bank's economic outlook.
The Fed signaled it will be "patient" in raising rates at its previous meeting this year.
Prices for the benchmark 10-year U.S. Treasury gained ground, lowering yields back to Friday’s 2.59%. Treasury prices and yields move in opposite directions.
Oil prices were up 45 cents to $58.97 U.S. a barrel.
Gold prices gained $1.40 to $1,304.30 U.S. an ounce.
