U.S. markets mixed on mild Monday

NEW YORK, April 28 (UPI) -- U.S. stock indexes hugged narrow ranges Monday as investors sat tight, waiting for word on possible lending rate cuts Wednesday.

Many analysts expect the U.S. Federal Reserve Bank will announce a 0.25 percentage point cut in lending rates after a two-day Federal Open Market Committee meeting, which begins Tuesday.

By the close Monday, the Dow Jones industrial average fell 20.11 points to 12,871.75, off 0.16 percent. The Standard and Poor's 500 index dropped 1.49 points to 1,396.35, off 0.11 percent. The Nasdaq composite index gained 1.47 points to 2,424.40, up 0.06 percent.

On the New York Stock Exchange, 1,795 shared advanced and 1,313 declined on a volume of 1.2 billion shares traded.

The 10-year U.S. Treasury note gained 10/32 to yield 3.831 percent.

The dollar fell. The euro traded at $1.5637 from Friday's $1.5596, while the dollar traded at 104.14 yen from Friday's 104.44 yen.

In Tokyo, the Nikkei index gained 30.90 points to 13,894.37 Monday, up 0.22 percent.

In London, the FTSE 100 index gained 7.40 points to 6,098.80, up 0.12 percent.