Investing.com - U.S. stocks finished Monday mixed to lower after noted investor Carl Icahn said he was cautious on stocks, which broke into record-high territory earlier on sentiments the Federal Reserve will keep its stimulus programs in place to bolster the economy.
Stimulus tools such as the Fed's USD85 billion in monthly bond purchases aim to spur recovery by driving down interest rates, boosting stock prices in the process.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.09%, the S&P 500 index fell 0.37%, while the Nasdaq Composite index fell 0.93%.
The Dow Jones Industrial Average broke 16,000 for the first time earlier while the S&P 500 broke above 1,800 for the first time on widespread sentiments that the Fed will continue purchasing bonds through early 2014 before letting the economy stand on its own two feet.
On Monday, however, Icahn said at the Reuters Global Investment Outlook Summit that he was "very cautious" on stocks, and his comments kicked in a round of profit taking later in the session on fears earnings haven't been reflecting frothy equities prices.
Elsewhere on Monday, Federal Reserve Bank of New York President William C. Dudley said he was hopeful for more a more robust economy in the near future though he avoided hinting at when he felt the Fed may announce plans to taper its asset purchases.
"I have to admit that I am getting more hopeful," Dudley said in prepared remarks of a speech he delivered at Queens College, Flushing, New York.
"Not only do we have some better data in hand, but also the fiscal drag, which has been holding the economy back, is likely to abate considerably over the next few years at the same time that the fundamental underpinnings of the economy are improving."
Elsewhere, National Association of Home Builders/Wells Fargo Housing Market Index came in unchanged in November at 54, missing analysts' calls for an uptick to 55 this month.
Leading Dow Jones Industrial Average performers included Boeing, up 1.68%, JPMorgan, up 1.59%, and Verizon, up 0.90%.
The Dow Jones Industrial Average's worst performers included Microsoft, down 1.78%, Cisco, down 1.14%, and Visa, down 1.02%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.93%, France's CAC 40 rose 0.66%, while Germany's DAX 30 rose 0.62%. Meanwhile, in the U.K. the FTSE 100 finished up 0.45%.
On Tuesday, the U.S. is to release data on the employment cost index, an important inflationary indicator.
Stimulus tools such as the Fed's USD85 billion in monthly bond purchases aim to spur recovery by driving down interest rates, boosting stock prices in the process.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.09%, the S&P 500 index fell 0.37%, while the Nasdaq Composite index fell 0.93%.
The Dow Jones Industrial Average broke 16,000 for the first time earlier while the S&P 500 broke above 1,800 for the first time on widespread sentiments that the Fed will continue purchasing bonds through early 2014 before letting the economy stand on its own two feet.
On Monday, however, Icahn said at the Reuters Global Investment Outlook Summit that he was "very cautious" on stocks, and his comments kicked in a round of profit taking later in the session on fears earnings haven't been reflecting frothy equities prices.
Elsewhere on Monday, Federal Reserve Bank of New York President William C. Dudley said he was hopeful for more a more robust economy in the near future though he avoided hinting at when he felt the Fed may announce plans to taper its asset purchases.
"I have to admit that I am getting more hopeful," Dudley said in prepared remarks of a speech he delivered at Queens College, Flushing, New York.
"Not only do we have some better data in hand, but also the fiscal drag, which has been holding the economy back, is likely to abate considerably over the next few years at the same time that the fundamental underpinnings of the economy are improving."
Elsewhere, National Association of Home Builders/Wells Fargo Housing Market Index came in unchanged in November at 54, missing analysts' calls for an uptick to 55 this month.
Leading Dow Jones Industrial Average performers included Boeing, up 1.68%, JPMorgan, up 1.59%, and Verizon, up 0.90%.
The Dow Jones Industrial Average's worst performers included Microsoft, down 1.78%, Cisco, down 1.14%, and Visa, down 1.02%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.93%, France's CAC 40 rose 0.66%, while Germany's DAX 30 rose 0.62%. Meanwhile, in the U.K. the FTSE 100 finished up 0.45%.
On Tuesday, the U.S. is to release data on the employment cost index, an important inflationary indicator.