Technology bolstered Wall Street slightly on Monday, as investors bought shares after analysts' comments on BlackBerry maker Research in Motion and Cisco Systems.
Sentiment also got a lift from American International Group Inc's
MetLife's stock rose 4.7 percent to $40.74 and AIG gained 3.6 percent to $29.10.
The news continues to signal there's more (deals) to come and helps put a floor in the market, said Kurt Brunner, portfolio manager at Swarthmore Group in Philadelphia.
Research in Motion
Shares of Clearwire Corp
The market move is more news-specific today than anything in a broad sense, Brunner said.
The Dow Jones industrial average <.DJI> shed 11.79 points, or 0.11 percent, to 10,554.41. The Standard & Poor's 500 Index <.SPX> dipped 0.14 point, or 0.01 percent, to 1,138.56.
But the Nasdaq Composite Index <.IXIC> gained 5.39 points, or 0.23 percent, to 2,331.74.
Some analysts expect the stock market to remain in a tight range while Congress debates healthcare and bank reform.
Though volume has been moderate to light of late, the market's rebound from the recent sell-off has been accompanied by improving breadth, with a rising number of stocks hitting fresh multi-week highs.
Dow component McDonald's Corp advanced 2.7 percent to $65.37 on the New York Stock Exchange after the world's biggest hamburger chain reported that February same-store sales increased 4.8 percent.
But an index of health insurers' shares slipped 0.5 percent after President Barack Obama criticized insurance premium increases and some cases of coverage denial in a speech in Philadelphia.
(Reporting by Rodrigo Campos; Editing by Jan Paschal)