US stocks pause after rally
US stocks ended little changed yesterday as investors took a pause from a recent rally, awaiting earnings from bellwethers such as Apple later in the week.
The S&P 500 is up nearly five per cent so far this year as an improving US economy has boosted investor optimism.
The Dow and S&P 500 both had their best weekly performances in a month last week.
According to Thomson Reuters data, 15 per cent of S&P 500 companies have reported earnings, and just 59 per cent posted results above Wall Street expectations.
That percentage trails the average of about 70 per cent, though the rate is expected to improve as earnings season gathers steam.
Among the 117 S&P 500 companies expected to report earnings this weeks is tech company Apple, due after the closing bell today.
The Dow Jones industrial average slipped 11.66 points, or 0.09 per cent, at 12,708.82. The Standard & Poor’s 500 Index was up 0.62 point, or 0.05 per cent, at 1,316.00. The Nasdaq Composite Index was down 2.53 points, or 0.09 per cent, at 2,784.17.
Texas Instruments rose three per cent after-hours after it posted better-than-expected revenues.