US stocks : Dow up 0.2 pct
U.S. stocks rose modestly on Monday as investors kept up a recent trend of buying on dips, with equities recovering from early weakness despite concerns about growth and China's housing market.
The S&P 500 has jumped about 7 percent so far in 2013, resisting calls for a pullback even though there are few catalysts to drive shares definitively higher. The Dow is less than 1 percent away from hitting its lifetime closing high, while the S&P 500 is 3 percent below its record close.
Concerns about "automatic" budget cuts in the United States and the euro-zone debt crisis also have served as reasons for investors to take a breather in the face of technical resistance. Any sign that the $85 billion in cuts are beginning to take a toll on the economy could jostle markets.
"The stock market still represents opportunity for investors, especially when you look at the domestic market, but it wouldn't be surprising if we pulled back on the concerns over China and Europe," said Eric Teal, chief investment officer at First Citizens Bancshares in Raleigh, North Carolina, which manages $5 billion.
The Dow Jones industrial average was up 33.44 points, or 0.24 percent, at 14,123.10. The Standard & Poor's 500 Index was up 5.68 points, or 0.37 percent, at 1,523.88. The Nasdaq Composite Index was up 10.75 points, or 0.34 percent, at 3,180.49.
Retail stocks ranked among the strongest after Deutsche Bank raised price targets on Target Corp and Macy's Inc . Target climbed 3.6 percent to $66.46. Macy's shares
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