Wall Street dips, as European stocks hit 3-month closing high

US stocks finished mostly flat on Monday as investors paused following the best two-day run this year, with central bank meetings and a full load of U.S. economic data looming.

The Dow Jones industrial average dipped 2.65 points, or 0.02 percent, to 13,073.01 at the close. The Standard & Poor's 500 Index edged down just 0.67 of a point, or 0.05 percent, to 1,385.30. The Nasdaq Composite Index fell 12.25 points, or 0.41 percent, to end at 2,945.84.

European shares scaled three-month highs, closing above a key technical level in a bullish sign, on expectations the European Central Bank and the US Federal Reserve will provide stimuli to support their ailing economies.

The FTSEurofirst 300 advanced 1.6 percent to 1,072.97 points, its highest close since April 2, having soared more than 5 percent in three days in brisk volumes in a rally sparked by Draghi's pledge.

In Asia, Japan's Nikkei share average firmed on growing expectations of further stimulus measures from the US Federal Reserve and the European Central Bank this week, with a handful of strong earnings reports also lending support.

The Nikkei edged up 0.8 percent to 8,635.44 points to a one-week high, but stopped short of 8,687.93, the 50 percent retracement of its rally from June 4 to July 4.