NEW YORK: The Dow Jones Industrial Average Monday kicked off a holiday-shortened week with a new record high, even as the other two indices stalled in sluggish trade.
At the closing bell, the Dow jumped 25.62 (0.16 percent) to 16,504.03, its fourth record close in the last five sessions.
The broad-based S&P 500 slipped 0.32 (0.02 percent) to 1,841.08, while the tech-rich Nasdaq Composite gave up 2.40 (0.06 percent) at 4,154.20.
"With a lot of people out, it probably will be a fairly quiet week," said William Lynch, director of investment at Hinsdale Associates.
The Dow has risen about four percent since the US Federal Reserve announced on December 18 that it plans to scale back its stimulus in January.
With so many investors out and not many major economic releases this week, "there will be a lot of consolidation," Lynch predicted. "The market won't go much higher."
US pending home sales rose 0.2 percent in November, the first rise in five months, but below the 1.5 percent increase projected by analysts.
Economic releases later this week include reports on home prices and consumer confidence.
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