Stocks end mixed as Apple falls, Dell surges

Apple held down the Standard & Poor’s 500 index, pushing it further below the five-year high it reached last week, after the technology giant’s stock sank following a report that demand for the iPhone 5 may be weaker than expected. The Dow Jones industrial average edged higher.

The Dow rose 18.89 points to 13,507.32 on Monday, having fallen as much as 29 points at the start of the day.

The S&P 500 fell 1.37 points to 1,470.68. The Nasdaq composite index dropped 8.13 points to 3,117.50

The S&P 500 closed at a five-year high of 1,472 on Thursday after a solid start to the fourth-quarter earnings reporting period and amid optimism that the outlook for global growth is brightening.

Apple’s stock, which isn’t included in the Dow but accounts for 10.3% of the Nasdaq and 3.7% of the S&P, slid $18.55, or 3.6%, to $501.75.

Computer maker Dell surged $1.41, or 13%, to $12.29 following a report that it’s in talks with buyout firms. Dell is considering going private with at least two firms, Bloomberg news reported, citing unidentified sources.

Earnings reporting will pick up this week with many big U.S. banks, including JPMorgan Chase, Citigroup and Bank of America, releasing results.

“The market is definitely in wait-and-see mode,” said Brian Gendreau, a market strategist at Cetera Financial Group.