04:58 PM EDT, 07/29/2024 (MT Newswires) -- US benchmark equity indexes closed mixed Monday as markets awaited major corporate earnings and the Federal Reserve's latest monetary policy decision scheduled for later this week.

The S&P 500 and the Nasdaq Composite rose 0.1% each to 5,463.5 and 17,370.2, respectively, while the Dow Jones Industrial Average fell 0.1% to 40,539.9. Consumer discretionary led the gainers among sectors, while energy saw the steepest decline.

Mega-cap companies Apple ( AAPL ) , Microsoft ( MSFT ) , Facebook parent Meta Platforms ( META ) , and Amazon.com ( AMZN ) will report their latest quarterly financial results later in the week. Other big names include Intel ( INTC ) , Boeing ( BA ) , Pfizer ( PFE ) , AMD (AMD) and Exxon Mobil ( XOM ) .

Some 206, or 41% of S&P 500 companies, have reported results so far in the current reporting cycle, with earnings up 6.5% year over year on revenue growth of 4.1%, Oppenheimer Asset Management said in a Monday note to clients.

In company news, ON Semiconductor's (ON) fiscal second-quarter results decreased year over year but topped market estimates, while the chipmaker issued an earnings outlook for the ongoing three-month period that matched analyst expectations at the midpoint. The company's shares jumped nearly 12%, the top gainer on the S&P 500 and the Nasdaq.

McDonald's (MCD) shares rose 3.7%, the best performer on the Dow. Nearly 93% of the fast-food heavyweight's restaurants in the US have committed to extending its $5 meal deal "even further" into the summer, McDonald's USA President Joe Erlinger said on an earnings conference call, according to a Capital IQ transcript. The company reported second-quarter earnings and revenue below market estimates.

Arm Holdings ( ARM ) saw the second-steepest decline on the Nasdaq, down 5.1%, as HSBC downgraded the stock to reduce from hold.

Enstar Group ( ESGR ) shares slid 6.1% after the company agreed to be taken private by a Sixth Street-led consortium in a $5.1 billion deal.

The US 10-year yield dropped 2.8 basis points to 4.17%, while the two-year rate rose 1.1 basis points to 4.4%.

The central bank's Federal Open Market Committee is scheduled to announce its latest monetary policy decision Wednesday.

"While the Fed is widely expected to leave rates unchanged for the eighth consecutive meeting in a range of (5.25% to 5.50%), with no Summary of Economic Projections this month, investors will be looking closely at the (FOMC) statement and listening even closer to (Fed Chair Jerome Powell's) press conference for any indication or lean towards a rate cut in September," Stifel said in a Monday note to clients.

West Texas Intermediate crude oil fell 1.7% to $75.89 a barrel Monday.

In economic news, Texas manufacturing contraction deteriorated more than expected this month as production and shipments fell into negative territory, according to the Dallas Fed.

Gold and silver fell 0.1% each to $2,379.70 per troy ounce and $27.99 per ounce, respectively.