Stocks close flat, oil price dips

The market-value weighted S&P 500 and Dow traded in record territory in mixed trading before closing flat while the Nasdaq rose.

Investors are employing a wait-see strategy ahead of further second quarter corporate results. The Dow fell -8 points or -0.04%  and the S&P 500 slipped -0.01%.

Nasdaq gains were led by technology but poor performing healthcare stocks dragged on the index as the Republican healthcare bill is delayed once again until Senator John McCain recovers from emergency surgery.

Oil continues to fluctuate between gains and losses dipping to $48 a barrel at close after the Energy Information Administration predicted a rise in August shale oil output.  Mining  was among the leading industries. 

• Dow 21,629 -0.04%
• S&P 500 2,459 -0.01%
• Nasdaq 6,314  +0.03%
• Russell 2000 1,431 +0.20%
• NYSE Composite 11,890 -0.06%
• Gold 1,233 -0.05%
• Oil WTI $48.39 -1.06%
• 10-Year Treasury Yield 2.31% -0.01

Blue Apron and Black Rock slide

The Meal kit delivery company, Blue Apron, saw its shares tumbled -9.78% to $6.61 after news of Amazon's trademark application for a prepared food-kit service caused tremors to the stock.

Blue Apron launched on the New York Stock Exchange at the beginning of the month at the issue price of $10 a share.  

BlackRock, asset management firm, took a hit falling -3.21% as revenue rose less than analysts' expectations. BlackRock's revenue rose 5% to $2.97 bn. 

Mining equipment Source: Shutterstock.com

China growth zooms

China's economy expanded 6.9% ahead of the government target of 6.5%. The strong showing lifted both commodity prices like copper and mining stocks higher. 

However, warning bells rang for the Chinese economy around its imbalances.  Market commentators noted that GDP growth was fueled by the availability of cheap credit supporting weak companies. President Xi Jinping is said to have called for "stronger financial stability framework."

Mining stocks, El Capitan Precious Metals, a precious metals exploration company increased 25%. UEX, a uranium exploration company, went up 16.75%.

Breaking news: Looking ahead data for housing market index, Petroleum Status reports and jobless claims will be released this week. Companies reporting results on Tuesday include Goldman Sachs, IBM, Harley Davidson and Lockheed Martin.