(Changes second-to-last paragraph to clarify U.S. civil law
suit was against McGraw-Hill's Standard & Poor's, not Moody's
* Google shares dip, executive to sell nearly half his stake
* Fed's Yellen says Fed taking 'forceful action' on economy
* Moody's rises in rebound off week of steep decline
* Dow off 0.2 pct; S&P off 0.1 pct; Nasdaq off 0.1 pct
By Ryan Vlastelica
NEW YORK, Feb 11 U.S. stocks ended a quiet
session with slight moves on Monday as investors found few
reasons to keep pushing shares higher following a six-week
advance, though the longer-term trend was still viewed as
The benchmark index is up more 6.4 percent in 2013, putting
both the S&P 500 and Dow industrials near multi-year highs. The
S&P is less than 4 percent from its all-time intraday high of
1,576.09, hit in October 2007.
"This is still a market that looks terrific, but when you're
up for six weeks in a row, everyone is going to want to take a
pause going into the seventh week even if there is no bad news
out there," said Eric Kuby, chief investment officer at North
Star Investment Management in Chicago.
Volume was light, with about 4.812 billion shares changing
hands on the New York Stock Exchange, the Nasdaq and NYSE MKT,
well below the daily average so far this year of about 6.48
Wall Street was modestly lower throughout the session but
regained some ground in the final hour of trading as Google Inc
rebounded off earlier losses. Shares of the Internet
search giant dipped 0.4 percent to $782.42, recovering from
earlier declines of 1 percent after the company said in a filing
former chief executive Eric Schmidt is selling roughly 42
percent of his stake in the company.
Also in the tech space, Apple Inc rose up 1 percent
to $479.93 after the New York Times reported the iPhone maker
was experimenting with the design of a device similar to a
The Federal Reserve's Vice Chair Janet Yellen, seen as a
potential successor to Fed Chairman Ben Bernanke next year, said
the Fed is still aggressively stimulating an anemic U.S.
economic recovery that has failed to bring rapid progress on
The Dow Jones industrial average was down 21.81
points, or 0.16 percent, at 13,971.16. The Standard & Poor's 500
Index was down 0.92 points, or 0.06 percent, at 1,517.01.
The Nasdaq Composite Index was down 1.87 points, or 0.06
percent, at 3,192.00.
Upbeat U.S. and Chinese data last week helped the S&P 500
extend its weekly winning streak to six. The index gained about
8 percent over that period.
Equities have been strong performers lately and many
investors have used any declines in the market as opportunities
"Everyone wants to buy on a dip in this market, but if
you're on the sidelines right now, the decline we're seeing
today just isn't the kind you would jump in on," Kuby said.
President Barack Obama will describe his plan for spurring
the economy in his State of the Union address on Tuesday. He is
expected to offer proposals for investment in infrastructure,
manufacturing, clean energy and education.
Opposition has grown to the $24.4 billion buyout of Dell Inc
, the No. 3 personal computer maker, as three of the
largest investors joined Southeastern Asset Management on Friday
in raising objections. Dell said in a regulatory filing it had
considered many strategic options before opting to go private in
a buyout led by Chief Executive Michael Dell.
Dell shares hovered near $13.65, the buyout offer price.
Regeneron Pharmaceuticals Inc shares rose 2.7
percent at $170.35 after it said longtime drug development
partner Sanofi plans to boost its stake.
Moody's Corp was one of the strongest percentage
gainers on the S&P 500, rising 4.9 percent to $45.49. Last week
the stock plunged 22 percent after the U.S. government launched
a civil lawsuit against McGraw-Hill, the parent of
Moody's peer Standard & Poor's.
About 53 percent of stocks traded on the New York Stock
Exchange closed lower while slightly more Nasdaq-listed stocks
closed in negative territory.
(Editing by Nick Zieminski and Kenneth Barry)