Stocks Drift Lower

NEW YORK (February 11, 2013)--Stocks finished the day lower Monday, pulling the S&P 500 back from a five-year high.

The index slipped nearly a point today to finish at 1,517.01.

The Dow lost 22 points to close at 13,971.24.

The Nasdaq composite fell nearly two points to 3,192.00.

Seven of the 10 industry groups within the S&P 500 dropped.

With the major indexes near record highs, many analysts think the stock market's six-week rally is ready for a pause.

Brian Gendreau, market strategist at Cetera Financial Group, said if the increase in the market since January were compounded over the entire year, it would be the best year ever for stocks.

"Nobody thinks that's going to happen,” he said.

Apple stock gained Monday after reports over the weekend that the tech giant is developing a gadget like a wristwatch, a smart watch that would reportedly run the same operating system used for iPhones and iPads.


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