NEW YORK, Oct 2 - The Dow and S&P 500 were lower on Monday with utilities falling sharply, while the Nasdaq was barely changed as investors weighed the likelihood the Federal Reserve will need to hold interest rates higher for longer.
The U.S. central bank said last month it may hike rates again as it struggles to bring inflation closer to its 2% annual target. Investors continue to keep a close eye on rising Treasury yields, she said, but the advance on Monday was tied to an agreement to avert a partial U.S. government shutdown, which reduced demand for the debt before this week's key jobs data.
S&P 500 companies report third-quarter results later this month, with analysts expecting earnings to have risen slightly from the year-ago quarter.
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