The Dow and the S&P 500 indexes pared gains on Monday, while the Nasdaq turned negative, as caution about the latest earnings season persisted, and investors fretted about the survival of CIT Group Inc , which provides financing to many small and mid-sized businesses.

CIT shares tumbled 23.5 percent to $1.17 on the New York Stock Exchange.

Shares of big-cap technology bellwethers, including Research In Motion Ltd weighed on the Nasdaq.

The Dow Jones industrial average <.DJI> was up 28.34 points, or 0.35 percent, at 8,174.86. The Standard & Poor's 500 Index <.SPX> was up 2.68 points, or 0.30 percent, at 881.81. The Nasdaq Composite Index <.IXIC> was down 6.64 points, or 0.38 percent, at 1,749.39.

(Reporting by Ellis Mnyandu; Editing by Padraic Cassidy)