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NEW YORK (CNN/Money) -
Stocks took a pause Monday after three straight weeks of gains, but analysts said activity should pick up as investors digest this week's batch of economic readings.
The Dow Jones industrial average (up 11.13 to 10,697.17, Charts) posted slim gains, despite a 3 percent drop in GM (down $0.74 to $23.74, Research) stock.
The broader-based Standard & Poor's 500 index (down 1.01 to 1,233.71, Charts) and the Nasdaq composite (down 1.58 to 2,200.95, Charts) ended the session little changed.
With no major economic news released Monday, stocks were sluggish.
"The market has come a long way in a short period of time," said Alfred Goldman, chief market strategist for A.G. Edwards. "Now it's taking time out. It's really just pausing to refresh."
The broad-based S&P 500 has added nearly 5 percent in the last three weeks, fueled by falling oil prices, solid earnings and signs that the economy is thriving.
Activity should pick up as investors digest this week's economic releases, analysts said.
Reports on tap for Tuesday include retail sales and producer prices, while the Consumer Price Index, a key inflation reading, is scheduled for release on Wednesday.
Solid earnings from retailers Wal-Mart (Research) and Lowe's (Research) lifted the market in the early going Monday, as did news of building- products maker Georgia-Pacific (Research)'s $13.2 billion takeover by privately held Koch Industries.
But the market struggled to hold on to gains and spent most of the day hovering around the breakeven point.
U.S. light crude oil for December delivery added 16 cents to settle at $57.69 a barrel on the New York Mercantile Exchange.
In after-hours trading, Agilent Technologies (Research) said its net income fell during the quarter, but excluding charges and other items, the company said earnings per share rose, sending shares 5 percent higher in after-hours trading on the Inet electronic brokerage system.
As of 5:30 p.m. ET, Nasdaq and S&P futures pointed to a flat open for stocks Tuesday.
Merger Monday
In corporate news, Georgia-Pacific (up $12.63 to $47.28, Research), which makes Brawny paper towels and Dixie cups, said Sunday it agreed to be bought by privately held Koch Industries for $13.2 billion.
Shares of the paper- and building-products company surged 36 percent on the deal, which pays a 39 percent premium to Georgia-Pacific shareholders.
Enterasys Networks (up $2.61 to $13.18, Research) rose 27 percent after the maker of computer security products and network equipment said it agreed to be sold to two private investment firms for $386 million.
Newspaper publisher Knight Ridder (up $0.60 to $63.10, Research) said its board was considering a possible sale of the company, sending shares nearly 2 percent higher.
Host Marriott (down $0.79 to $16.65, Research) said it would buy 38 luxury and upscale hotels from Starwood Hotels and Resorts Worldwide (up $0.76 to $60.02, Research) in a deal valued around $4 billion.
What moved?
Among the movers, oil stocks gained, with the Philadelphia Oil Services Sector (Charts) index finishing the session up 1.3 percent.
Wal-Mart (up $0.30 to $49.30, Research) edged higher after it reported third-quarter earnings in line with Wall Street forecasts, despite softer-than-expected sales. Wal-Mart also issued an outlook for the fourth quarter and full year that matched analysts' expectations.
Shares of home-improvement retailer Lowe's (up $2.92 to $64.89, Research) jumped 4.7 percent after the company said broad-based improvement in sales helped profits jump 26 percent, topping consensus estimates. The company also forecast full-year earnings above current estimates.
Tech stocks were hurt after Hewlett-Packard (down $0.32 to $28.20, Research) and Motorola (down $0.70 to $22.86, Research) were both downgraded.
Pharmaceutical stocks ended mostly lower, with decliners including Bristol-Myers Squibb (down $0.35 to $21.74, Research), Schering-Plough (down $0.46 to $19.26, Research) and Wyeth (down $0.76 to $43.32, Research).
Abbott Labs (down $3.21 to $40.52, Research) slid 7 percent after a study showed its cholesterol drug Tricor failed to prevent fatal heart attacks in diabetics.
Tyson Foods (down $1.99 to $16.51, Research) tumbled nearly 11 percent after it reported a lower third-quarter profit and warned 2006 earnings would fall below estimates.
Market breadth was negative. Losers beat winners on the New York Stock Exchange 5 to 3 on volume of 1.3 billion shares. On the Nasdaq, decliners topped advancers by three to two as 1.4 billion shares exchanged hands.
Treasury prices fell, lifting the yield on the benchmark 10-year note to 4.60 percent from 4.56 percent late Thursday. Treasury markets were closed Friday for the Veterans Day observance; Treasury yields rise when prices fall.
In currency trading, the dollar was slightly higher against the euro and the yen.
COMEX gold lost 30 cents to $469.10 an ounce.
In global trade, major Asian markets ended mixed, and European shares finished mostly higher.
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