* Netflix, Texas Instruments to post earnings after the
* September home resales fall, price appreciation slows
* Dow off 0.1 pct, S&P 500 flat, Nasdaq up 0.3 pct
By Rodrigo Campos
NEW YORK, Oct 21 U.S. stocks were little changed
on Monday after the S&P 500 hit a fresh intraday record high,
boosted by gains in Apple after a bullish research note, while
underwhelming results from McDonald's weighed on the Dow.
The S&P 500 on Friday capped its biggest weekly gain in
three months on stronger-than-expected earnings from companies
including Google and Morgan Stanley and as a deal in Washington
helped avert a possible government default and reopened the
federal government after a 16-day shutdown.
"It is positive that investors are focusing on company
fundamentals" and not on political dealings in Washington, said
Peter Jankovskis, co-chief investment officer at OakBrook
Investments in Lisle, Illinois.
"The good news is we're returning to reactions that are
stock specific," he said.
Apple led gains on the S&P 500 and Nasdaq after
Societe Generale lifted its price target on the stock to $575
from $500 and advised clients to buy shares. The stock rose 2.3
percent to $520.82.
Shares of McDonald's fell 0.9 percent to $94.35,
ranking the restaurant chain as the top point decliner in the
Dow industrials. McDonald's reported revenue that missed
estimates and warned global October sales could be relatively
Other companies expected to report results on Monday include
Netflix and Texas Instruments. More than 25
percent of the S&P 500 components are due to report this week.
The Dow Jones industrial average fell 7.83 points or
0.05 percent, to 15,391.82, the S&P 500 gained 0.62
points or 0.04 percent, to 1,745.12 and the Nasdaq Composite
added 11.153 points or 0.28 percent, to 3,925.431.
Hasbro, up 7.7 percent at $50.91, was one of the top
performers on the S&P 500 after the toy maker topped Wall
Street's profit estimates.
JPMorgan Chase & Co shares edged up after it reached
a tentative $13 billion deal with the U.S. government to settle
investigations into bad mortgage loans sold to investors by
JPMorgan and the banks it bought during the financial crisis.
Shares rose 0.4 percent to $54.51.
"A settlement of this size brings closure for many and it
allows them to put the episode behind," said Andre Bakhos,
managing director at Janlyn Capital LLC in Bernardsville, New
Shares of Tellabs Inc rose 4 percent to $2.45 after
the network services provider agreed to be taken private by
Marlin Equity Partners for $891 million.
The market barely reacted to news that U.S. home resales
fell in September and prices rose at their slowest pace in five
months, in the latest signs higher mortgage rates were taking
some edge off the housing market recovery.
Japan's exports rose but were well short of expectations in
September, a sign that slowing demand in Asia was taking the
shine off Prime Minister Shinzo Abe's stimulus policies and
clouding the outlook for a recovery.