US STOCKS-Dow, S&P 500 close slightly lower; semis boost Nasdaq

lunes 3 de noviembre de 2014 17:51 GYT

* Dow, S&P 500 hit intraday records but end down in quiet session

* Sapient, Covance rally on heavy volume; both to be bought

* ISM Manufacturing data tops expectations in October

* Dow down 0.18 pct, S&P 500 down 0.08 pct, Nasdaq up 0.05 pct

By Yasmeen Abutaleb

NEW YORK, Nov 3 (Reuters) - The S&P 500 and the Dow closed with slight losses on Monday after briefly touching intraday records, but strength in semiconductors boosted the Nasdaq.

Monday's subdued trading followed the Dow's biggest weekly gain since January 2013 and the S&P's biggest two-week jump since December 2011. Gains in recent weeks have largely come on the back of strong quarterly results, which have eased concerns over how corporations are faring in an uncertain global economy.

"We got back to the highs in the S&P 500 and Dow rather quickly, so I think you're running into some resistance and profit-taking," said Stephen Carl, principal and head of U.S. Equity Trading at The Williams Capital Group.

While the market's momentum is to the upside, near-term trading may be quieter as earnings season draws to a close. With results in from 73 percent of companies, three-quarters have beat analysts' expectations, according to Thomson Reuters data, above the long-term average of 63 percent.   Continuación...