Stock market changes little on slow day of trading

After dawdling between small gains and losses in a slow day of summer trading, the stock market ended little changed on Monday.

Investors appeared to sit tight and wait for two key reports. On Wednesday, the Federal Reserve wraps up a two-day meeting then issues a statement that investors will study for any hints about the Fed’s next interest-rate move. On Friday, the government releases its closely watched monthly jobs report.

The S&P 500 index edged up 0.57 of a point, or 0.03 percent, to close at 1,978.91.

The Dow Jones industrial average rose 22.02 points, 0.1 percent, to 16,982.59, while the Nasdaq composite slipped 4.65 points, or 0.1 percent, to 4,444.91.

Real estate market slips, appears to cool off in June

Fewer Americans signed contracts to buy homes in June, as the real estate market appears to have cooled off this summer.

The National Association of Realtors said Monday that its seasonally adjusted pending home sales index slipped 1.1 percent to 102.7 last month. The index remains 7.3 percent below its level a year ago.

Meat company subsidiary said to fall short on safety

A U.S. meat supplier said Monday a Chinese subsidiary embroiled in a safety scandal fell short of its requirements for maintaining high standards.

The president of OSI Group, David G. McDonald, declined to give details of what the company has found at Shanghai Husi Food Co. A Shanghai TV station reported last week that Husi sold expired beef and chicken to restaurants including McDonald’s and KFC.

Virgin America files for initial public offering

Virgin America’s next destination is Wall Street.

The California-based airline filed on Monday for an initial public offering of shares.

Virgin America Inc., which operates out of Los Angeles and San Francisco, flies to 22 airports in the United States and Mexico and has a fleet of 53 planes. It carried 6.3 million passengers last year.

– The Associated Press