Stocks ended a listless session little changed Monday as cautious investors found few reasons to put money into the market, even as upbeat remarks on Alcoa Inc. and General Motors Corp. helped prop up the Dow Jones Industrials.
The Dow rose 4.65, or 0.04 percent, to 10,798.27. The Standard & Poor's 500 Index added 0.99, or 0.08 percent, to 1,265.02. The Nasdaq Composite Index fell 3.78, or 0.2 percent, to 2,258.80.
Local movers were led by Occidental Petroleum Corp., which gained 2.8 percent to $93.99, and UTI Worldwide Inc., which rose by 1.9 percent to $107.05. On the down side, KB Home slipped 2 percent to $70.39, Arden Group Inc. dipped 1.6 percent to $89.25 and Ryland Group Inc. fell 1.9 percent to $69.63.
Shares of DaVita Inc. rose 6.5 percent to $57.20 after the El Segundo-based dialysis services company's stock rating was upgraded to "buy" from "neutral" by Banc of America Securities.
Northrop Grumman Corp. gained 0.9 percent to $63.24 after President George W. Bush's proposed $439.3 billion U.S. defense budget for 2007 included $2.5 billion for two new DDX Navy destroyers under development and $2.4 billion for a Virginia Class attack submarine built by Northrop. and General Dynamics Corp.
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