Stocks Settle Mixed as Investors Take Breather

NEW YORK (TheStreet) -- Major U.S. stock averages traded mixed Monday even after Caterpillar(CAT) shares popped, as investors took a breather following a substantial run-up in the benchmark indices the prior week.

The tech-heavy Nasdaq advanced slightly; Apple( AAPL) shares jumped 2.5%.

The Dow Jones Industrial Average was down 14 points, or 0.10%, at 13,882. Monday brought an end to the previous six consecutive positive sessions. Friday was the index's highest close since October 2007.

Breadth was negative, with losers outnumbering winners 17 to 13. Alcoa( AA) , Boeing( BA) , Bank of America( BAC) and Travelers( TRV) shares sank to the bottom.

The top percentage blue-chip gainers were Caterpillar, General Electric( GE) and Procter & Gamble( PG) .

Caterpillar shares jumped 2% after the heavy construction and mining equipment maker beat fourth-quarter bottom-line expectations and gave cautious guidance.

The S&P 500 was down 3 points, or 0.18%, at 1500. The Nasdaq closed up 5 points, or 0.15%, at 3154 as Apple shares gained. The stock slid by 15% last week after the tech giant's disappointing first-quarter results.

Most sectors in the broader market were down, led lower by basic materials, consumer cyclicals and capital goods. The only sector gainers were technology, conglomerates and utilities.

Volumes totaled 3.31 billion shares on the New York Stock Exchange and 1.86 billion on the Nasdaq. Decliners were outpacing advancers by a ratio of 1.3-to-1 on the Big Board, while advancers were ahead of decliners 1.3-to-1 on the Nasdaq.

David Molnar, partner and managing director at Hightower's Molnar & Nordlicht Group, said with 93% of the S&P 500 trading above their 50-day moving averages, investor bullish sentiment at two-year highs, and the March quarter guidance tending negative, he sees a short-term risk of an overbought situation.