US stocks end mixed as focus turns to Fed rate decision

U.S. stocks ended on a mixed note on Monday as investors looked ahead to the Federal Reserve’s monetary policy announcement later this week, and stayed largely cautious and selective with regard to their moves. Among the major averages, the Dow hit a new record high and ended up 228.30 points or 0.55 percent at 41,622.08, and the Nasdaq closed lower by 91.85 points or 0.52 percent at 17,592.13, while the S&P 500 settled at 5,633.09 with a small gain of 7.07 points or 0.13 percent. The Fed is widely expected to lower interest rates, but there remains some debate about the size of the rate cut.