Stocks end mixed on Wall Street; Apple slides

AP News
Posted: Jan 14, 2013 4:05 PM

NEW YORK (AP) — Stocks are ending mixed on Wall Street as investors wait for more earnings reports to come in. Apple dropped on concern that demand for the iPhone 5 is waning.

The Dow Jones industrial average closed up 19 points at 13,507 Monday. It fell as much as 29 points at the start of the day.

The Standard & Poor's 500 lost a point to end at 1,470. The Nasdaq composite index fell eight points to 3,117.

The S&P and Nasdaq were dragged down by Apple, the biggest component of both indexes. Apple fell 4 percent following a report that the company has cut its orders for iPhone 5 components due to weak demand.

Falling stocks outnumbered rising ones on the New York Stock Exchange. Volume was light at 2.9 billion shares.