Stocks fell in the last few minutes of trading Monday to close mixed despite being higher most of the day after an upbeat retail sales report, and news that firms were beginning to spend cash on acquisitions.
TheDow Jones Industrial Average rose 9.39 points, or 0.08 percent, to close at 11,201.97. The blue-chip index had risen more than 80 points earlier. JPMorgan , Caterpillar , and Travelers . Disney and Intel fell.
The S&P 500 fell 1.46 points, or 0.1 percent, to close at 1,197.75, while the tech-heavy Nasdaq fell 4.39 points, or 0.2 percent, to close at 2,513.82. The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell to just above 20.
Among key S&P 500 sectors, financials, utilitites and telecom rose, while materials and energy fell.
No one piece of news appeared to send the market lower at the end of the session.
Some traders may have been making room in their holdings to buy a secondary offering by General Growth Properties, which announced a 135 million share offering Monday night, as well as later offerings this week by General Motors and Booz Allen Hamilton, said Kevin Kruszenski, head of equity trading at Keybanc Capital Markets. In all, about $14 billion in new offerings were slated to be sold.Page 1 of 8 | Next Page