: U.S. stocks close mixed after Fed loan survey

U.S. stocks closed mixed Monday, showing little improvement after the Federal Reserve’s senior loan officer opinion survey on bank lending practices showed a tightening in credit conditions in the first quarter. The Dow Jones Industrial Average DJIA ended 0.2% lower, while the S&P 500 SPX edged up 0.1% and the Nasdaq Composite COMP rose 0.2%, according to preliminary data from FactSet. The Fed’s survey, released Monday afternoon, said “banks cited a less favorable or more uncertain economic outlook, reduced tolerance for risk, deterioration in collateral values, and concerns about banks’ funding costs and liquidity positions.” The survey found weaker demand for commercial and industrial loans, real estate loans, and auto and consumer loans, but demand was “basically unchanged” for credit cards.

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