11 de noviembre de 2014 / 15:03 / hace 3 años

US STOCKS-Wall St flat after latest Dow, S&P 500 records

* D.R. Horton advances after earnings

* Veterans Day holiday may curb volume

* Indexes off: Dow 0.14 pct, S&P 0.14 pct, Nasdaq 0.24 pct (Updates to market open)

By Chuck Mikolajczak

NEW YORK, Nov 11 (Reuters) - U.S. stocks were little changed shortly after the open on Tuesday, as investors paused after the Dow and S&P 500 extended their streak of record closes to a fourth day.

Both the indexes briefly managed to climb to a fresh intraday record for a fifth straight day on Tuesday. On Monday, the benchmark S&P set its 39th new closing high for the year, versus 45 in 2013. The last time the index closed at a record high in four consecutive days was in June, while the last five-day streak was in May 2013.

The benchmark index has rallied more than 9 percent since hitting a six-month low in October, buoyed by supportive economic data and solid corporate earnings reports. For the year, the index is up over 10 percent.

“It’s been grinding higher, a pretty impressive rally off the bottom,” said Andre Bakhos, managing director at Janlyn Capital LLC in Bernardsville, New Jersey.

“We have equity demand driven by the perception of improving economics and companies’ earnings prospects.”

Thomson Reuters data through Monday morning showed that of 448 companies in the S&P 500 to report earnings, 74.6 percent beat expectations, above the 63 percent beat rate since 1994 and 67 percent for the past four quarters. Earnings overall are expected to grow 10 percent over the year-ago period.

The Dow Jones industrial average fell 24.66 points, or 0.14 percent, to 17,589.08, the S&P 500 lost 2.8 points, or 0.14 percent, to 2,035.46 and the Nasdaq Composite dropped 10.94 points, or 0.24 percent, to 4,640.67.

D.R. Horton, the largest U.S. homebuilder, rose 1.4 percent to $23.76 after it reported better-than-expected quarterly revenue but earnings missed Wall Street expectations. The PHLX housing index gained 0.6 percent.

There is no major U.S. economic data on the calendar for Tuesday due to the U.S. Veterans Day holiday, which may also dampen volume.

U.S.-listed shares of Vodafone jumped 4.8 percent to $35.60, after the world’s second-biggest mobile operator raised it full-year earnings outlook.

Alibaba Group Holding Ltd’s finance services arm “will definitely go public,” Executive Chairman Jack Ma said on Tuesday, eyeing a mainland China listing for the e-commerce company’s crown jewel. In addition, its Singles’ Day sales broke through the $8 billion mark. But shares lost 2.6 percent to $116.

Zynga shares jumped 4.8 percent to $2.60 after Jefferies raised its rating on the stock to “buy” from “hold” with a $4.50 price target. (Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)

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