S&P 500 begins week with slight decline
BY Wire Reports
Tuesday, February 12, 2013
2/12/13 at 4:28 AM
Stocks drifted lower in thin trading Monday, pulling the Standard & Poor's 500 index back from a five-year high.
The broad-market rose last week to its highest level since November 2007. With little in the way of market-moving news Monday, the S&P 500 slipped 0.92 of a point to close at 1,517.01.
Seven of the 10 industry groups within the S&P 500 dropped.
Now, with major indexes near record highs, many think the stock market's six-week rally is ready for a pause.
"The consensus seems to be that we're due for a correction," says Brian Gendreau, market strategist at Cetera Financial Group.