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US stocks open the week with losses ahead FOMC; beware of DJIA 16,930

FXStreet (San Francisco) - Wall Street closed negative on Monday after lossing initial gains as investors are awaiting for FOMC minutes detail and earnings reports.

The Dow Jones declined 17.72 points or % to finish the day at 16,991.97; "while the technical outlook has improved a little following Friday’s sharp rally, there is a danger that another sell-off could be on the way," comments Fawad Razaqzada from FOREX.com. "The trigger for this could a decisive break below key support at 16930. Until/unless that happens, one should proceed with extra caution."

The S&P 500 eased 3.08 pts or 0.16% to close the session at 1,964.82; while the Nasdaq Composite fell 20.82 pts or 0.47% to 4,454.80.

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