Stocks were little changed on Tuesday as the market showed signs of fatigue after major indexes hit multiyear highs.
Financial and energy stocks were the biggest decliners. But Apple Inc
Wall Street had a strong start to the second quarter on Monday, with the S&P 500 marking its highest close since mid-May 2008. The Dow scored its highest finish since December 31, 2007, while the Nasdaq once again closed at levels not seen since late 2000.
We had a very strong first quarter and it was not surprising to see a spillover into yesterday. Today, on the other hand, may be a good chance to take a pause, especially as we head into earnings season, said James Dunigan, chief investment officer at PNC Wealth Management in Philadelphia.
The Dow Jones industrial average <.DJI> was down 6.40 points, or 0.05 percent, at 13,258.09. The Standard & Poor's 500 Index <.SPX> was off 0.70 point, or 0.05 percent, at 1,418.34. The Nasdaq Composite Index <.IXIC> was up 7.65 points, or 0.25 percent, at 3,127.35.
Investors awaited minutes from the U.S. Federal Open Market Committee's March 13 meeting, due at 2 p.m. EDT (1800 GMT), that may provide clues on any potential quantitative easing.
Federal Reserve policymakers on Monday signaled little appetite for further monetary steps to stimulate U.S. growth in an economy that is gradually strengthening.
Among blue chips, Alcoa Inc
New orders for U.S. factory goods rebounded in February, the government said, suggesting manufacturing held on to momentum early in the year despite signs of slower growth. Market reaction was muted.
(Reporting By Angela Moon; editing by Jeffrey Benkoe)