Wall Street stocks closed mixed on Monday, as caution over inflation and future Federal Reserve policy followed Friday’s report of solid job creation last month and reports of a possible buyout of Dow Chemical, later scotched by the company.

The S&P 500 index gained 0.1 per cent to 1,444.81, and spent the day locked in a narrow trading range. In spite of materials stocks rallying, weakness in energy, telecom, technology and financial sectors limited an early advance by the broad market.