Stocks mixed on quiet day
NEW YORK -- The stock market paused Monday, ending on a mixed note, after a string of records in recent weeks.
Investors had little company-specific news to digest and trading was light ahead of the Thanksgiving holiday later this week. Still, the market was hit with broader geopolitical news. The U.S. and other world powers reached a deal Sunday to limit Iran's nuclear program, an event that dragged down oil prices and energy stocks.
The slow day represented a lull in the market's strong run-up.
Stocks have soared this year as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve have drawn investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.
The Dow Jones industrial average rose eight points, or 0.1 percent, to 16,072.54. The Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 1,802.48. On Friday, the index closed above 1,800 for the first time
Despite light trade, Monday did feature another market 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 2.92 points, or 0.1 percent, at 3,994.57.
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