* Pending home sales rise, factory orders edge lower
* Microsoft lower after Goldman downgrade
* Switzerland sets new rules for Credit Suisse, UBS
* Indexes: Dow flat, S&P off 0.16 pct, Nasdaq off 0.4 pct
* For up-to-the-minute market news see [STXNEWS/US] (Updates prices, adds pending home sales, factory orders data)
By Ryan Vlastelica
NEW YORK, Oct 4 (Reuters) - The Dow and S&P 500 were little changed on Monday as concerns about bank profits, spurred by new Swiss capital rules, were offset by upbeat housing data, while Microsoft fell after a ratings downgrade, weighing on the Nasdaq.
Pending home sales rose more than expected in August, indicating the housing market was regaining some stability, and August factory orders fell slightly more than forecast. For details, see [ID:nN04102686] and [ID:nN04108989]
Swiss regulators will require global banks UBS AG
Concerns about Europe's banking system have been a headwind for U.S. stocks in recent months, even as some improving domestic data eased concerns over a possible double-dip recession. The S&P 500 recently finished its best quarter in a year, though the index has struggled to break out of the 1,130-1,150 range.
"These austerity measures are necessary, but don't have a stimulating effect on the market," said Malcolm Polley, president and chief investment officer of Stewart Capital Advisors in Indiana, Pennsylvania. "It could mean that equity returns will be muted, though not necessarily down, for quite a while."
The Dow Jones industrial average <.DJI> was up 2.80 points, or 0.03 percent, at 10,832.48. The Standard & Poor's 500 Index <.SPX> was down 1.78 points, or 0.16 percent, at 1,144.46. The Nasdaq Composite Index <.IXIC> was down 8.74 points, or 0.37 percent, at 2,362.01.
Microsoft Corp
Actel Corp
GTSI Corp
This week marks the unofficial start of the third-quarter
earnings season, with Alcoa Inc