Jan 29, 2013, 07.48 AM | Source: Reuters
The Dow and S&P 500 were nearly flat on Monday as a four-week rally stalled, while a rebound in Apple shares helped buoy the Nasdaq.
The S&P 500 is coming off a streak of eight sessions of gains, the longest in eight years, but the index remained above 1,500. It ended above that level on Friday for the first time in more than five years.
"I think this multi-year high is really something that's in play both for short-term traders and for folks with money on the sidelines," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
Investors poured USD 55 billion in new cash into stock mutual funds and exchange-traded funds in January, the biggest monthly inflow on record, research provider TrimTabs Investment Research said.
Bargain hunters lifted Apple