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Wall Street was mixed on Monday as strong gains in Shanghai and the start of a busy week for corporate earnings failed to calm nerves about rising rates and the prospect of slowing economic growth around the world. Capping a choppy day of trading, the Nasdaq composite closed 0.26% higher. The Dow Jones industrial average fell 0.5%, or more than 100 points, and the S&P 500 was down 0.43%. "Transitions occurring in interest rates and in the way trade is conducted globally are causing investor sentiment to become unsettled," John Stoltzfus of Oppenheimer Equity Research said in an email. Chinese stocks saw a sharp recovery overnight, with the Shanghai Composite gaining nearly 5% as Beijing jumped in to prop up equities. After reporting last week that the economy expanded at the slowest pace in a decade in the third quarter, Chinese stocks dropped by the most in three years. Earnings season is offering some relief to Wall Street, which had led a global sell-off earlier this month as investors fretted about rising rates. Dozens of major companies — including Microsoft, Amazon, and Google parent company Alphabet — post third-quarter earnings this week. About 160 S&P 500 companies will report, according to Reuters. After losing business with long-time customer Toys 'R' US, toymaker Hasbro missed analyst expectations in the third quarter. Toys 'R' Us, the largest toy retailer in the world, filed for bankruptcy last year. European stocks were also modestly higher after the ratings agency Moody's left Italy in investment grade territory in a report, easing some concerns about the populist government's plans to sharply increase public spending. But it also cut Rome's credit rating in the report to one level above junk. On Monday, Italy continued to clash with European Union officials who have called Rome's budget "unprecedented." Energy stocks sank more than 1% as Halliburton lowered its outlook for the rest of the year. Meanwhile, oil rebounded after the Trump administration outlined requirements for Iran sanctions waivers. Prices had earlier fallen on an announcement that Saudi Arabia would not roll out an oil embargo amid tensions with Washington. SEE ALSO: Trump has no intention of backing down from his trade war — and wants to see China 'feel more pain' | 
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