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Markets correct lower

Feb. 11, 2013 at 6:51 PM   |   Comments

NEW YORK, Feb. 11 (UPI) -- U.S. stock indexes closed lower Monday, with investors becoming cautious in the midst of a long winning streak.

By close of trading, the Dow Jones industrial average gave up 21.73 points or 0.16 percent to settle at 13,971.24. The Nasdaq composite index nudged downward 1.87 points or 0.06 percent to 3,192. The Standard & Poor's 500 shed 0.92 points or 0.06 percent to finish at 1,517.01.

On the New York Stock Exchange, 1,354 stocks advanced and 1,669 declined on a volume of 2.5 billion shares traded.

The 10-year treasury note was flat, yielding 1.968 percent.

Against the dollar, the euro rose to $1.341 from Friday's $1.3372. The dollar rose to 94.25 yen from 92.76 yen.

The Nikkei 225 index in Tokyo was closed Monday.

In London, the FTSE 100 index added 0.21 percent, 13.13 points, to 6,277.06.

"We're paring the big run that we've had since Election Day," Paul Nolte, managing director at Dearborn Partners told The Wall Street Journal.

"The market needs to take a break," he said. "I think we've got a chance of getting to the old highs this week or next, barring any exogenous European event."

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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