The Dow Jones industrial average edged up nearly 0.1%, while the S&P 500 lost 0.1%. The Nasdaq fell 0.2%.
and then the Fed next week," said Bernard Kavanagh, vice president of portfolio management for St. Louis-based broker Stifel Nicolaus.
Investors are expecting ECB president Mario Draghi to announce the details of a new bond-buying program for euro-area governments that agree to certain terms. The program will involve unlimited purchases of bonds, which will be "sterilized" to ease concerns about printing money, according to Bloomberg.
Meanwhile, investors are keeping a close watch on all economic numbers ahead of the Federal Reserve's Sept. 12-13 policy meeting, since the reports will likely influence the central bank's decision on whether it will announce more quantitative easing. The government is expected to report Friday that employers added 120,000 jobs in August, according to economists surveyed by CNNMoney.
Fed chairman Ben Bernanke made the case for more stimulus in a speech last week, although analysts say he may come under political pressure ahead of this year's presidential election.
Currencies and commodities: The dollar lost ground against the euro, the British pound and the Japanese yen.
Oil for October delivery gained 6 cents to settle at $95.36 a barrel.
Gold futures for December delivery fell $2 to end at $1,694.00 an ounce.
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