U.S. stocks were little changed on Monday as gains in utilities and consumer stocks offset declines in healthcare. Elly Park reports.
After the close, Netflix jumped on better than expected subscriber growth. But Wall Street ended the day little changed as gains in utilities and consumer stocks offset declines in healthcare. BlackRock fell after the world's biggest asset manager's quarterly profit came in below expectations. Hilary Kramer of A&G Capital Research: (SOUNDBITE) HILARY KRAMER, CHIEF INVESTMENT OFFICER, A&G CAPITAL RESEARCH "It's very important that every investor listens and really thinks about the message that we heard from the big banks, especially JPMorgan that reported last Friday. The message there was that the yield curve is flattening, okay? It actually might invert. It's a horrible sign for our economy and the market, but a flattening yield curve is very bad for the future od these banks to be able to make money. They like to borrow low and lend out high. If the yield curve is the same, they can't make that spread, and it could really impact earnings down the road." Procter & Gamble was up slightly on the news that investor Nelson Peltz wants a seat on the company's board. And Blue Apron plunged after Amazon filed a trademark for a competing meal-kit service earlier this month. In Europe, stocks closed mixed.