US STOCKS-Wall St near flat after hitting new highs; VIX gains

lunes 9 de junio de 2014 14:59 GYT
 

* Merck to buy Idenix; Analog to purchase Hittite

* Apple sees heavy trading following stock split

* CBOE Volatility Index up, day after hitting lowest since Feb '07

* Dow up 0.1 pct; S&P 500 down 0.01 pct; Nasdaq up 0.2 pct (Updates to late afternoon)

By Caroline Valetkevitch

NEW YORK, June 9 (Reuters) - U.S. stocks were nearly flat on Monday after the Dow and S&P 500 hit intraday record highs again on more deal news, while Wall Street's fear gauge rebounded.

The CBOE Volatility index gained 6.3 percent to 11.41 after falling on Friday to its lowest level since February 2007. The VIX remains at nearly half of its historical average, which some analysts worry is a signal that the market is not fully accounting for issues that could derail the rally.

The S&P 500 and Dow have repeatedly hit record highs in recent sessions. If the S&P 500 ends Monday's session higher, it will mark its 11th rise of the past 13 sessions, and its seventh record close of the past eight trading days.

There's "still skepticism about this rally, so consequently, we're not in an overbought position here," said Bucky Hellwig, senior vice president of BB&T Wealth Management in Birmingham, Alabama.   Continuación...