US STOCKS-Wall St little changed after S&P 500 breaks support

lunes 13 de octubre de 2014 14:23 GYT

* Canadian Pacific approached CSX about merger -WSJ

* Earnings reports to pick up speed this week

* Dow up 0.04 pct, S&P down 0.1, Nasdaq up 0.2 pct (Updates to afternoon trading)

By Caroline Valetkevitch

NEW YORK, Oct 13 (Reuters) - U.S. stocks were nearly flat in afternoon trading on Monday but were off the lows of the session following the S&P 500's break below 1,900 and another key technical support level.

The index briefly fell below 1,900, trading as low as 1,890.67 earlier in the session. It remained below its 200-day moving average of around 1,905.

Investors have been cautious ahead of earnings this week, one of the busiest weeks of the reporting period.

"I think investors are looking at this earnings period with a bit of optimistic caution. Wall Street analysts continue to be a bit conservative on their estimates, and when all is said and done, you're going to have beat rates both on earnings and revenue," said Bruce Zaro, chief technical strategist, Bolton Global Asset Management in Boston.

At 2:11 p.m., the Dow Jones industrial average rose 6.78 points, or 0.04 percent, to 16,550.88, the S&P 500 lost 0.98 points, or 0.05 percent, to 1,905.15 and the Nasdaq Composite added 8.30 points, or 0.19 percent, to 4,284.54.   Continuación...