Stocks mixed, Nasdaq flirts with 4,000 milestone
Contemporary apparel brand Vince chief executive Jill Granoff, center, applauds as her company's stock begins trading during its IPO on the floor of the NYSE Friday. (Nov. 22, 2013) Credit: AP
The stock market paused Monday, ending on a mixed note, after a string of recent records.
Investors had little company-specific news to digest, although the United States and other world powers reached a deal to limit Iran's nuclear program, an event that pushed down oil prices and energy stocks.
The slow day represented a pause in the market's strong run-up, capped by another milestone on Friday, when the Standard & Poor's 500 index closed above 1,800 for the first time.
Stocks have soared this year as a solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve have drawn investors. Stocks also have gained because they offer an attractive option to bonds, where interest rates remain near all-time lows.
Despite light trade, Monday did feature another milestone. The Nasdaq rose as high as 4,007.09, a level it hasn't seen since Sept. 7, 2000, during the dot-com bubble. The index ended up 0.07 percent at 3,994.57. The Dow Jones industrial average rose 7.77 points to 16,072.54. The Standard & Poor's 500 index fell 0.13 percent to 1,802.48.
Even with Monday's decline, the S&P 500 has risen for seven straight weeks and is up 26 percent in 2013, its best performance in 15 years. -- AP
Sarra Sounds Off: Suffolk Hall of Fame Class of 2026 On the latest episode of "Sarra Sounds Off," the Suffolk Hall of Fame class of 2026, former NFL Quarterback Mike Buck and Jared Valluzzi has the plays of the week. Credit: Newsday
Sarra Sounds Off: Suffolk Hall of Fame Class of 2026 On the latest episode of "Sarra Sounds Off," the Suffolk Hall of Fame class of 2026, former NFL Quarterback Mike Buck and Jared Valluzzi has the plays of the week. Credit: Newsday
