The Standard & Poor's 500-stock index slipped from a three-year high, dragged lower by energy shares including Exxon Mobil as crude-oil prices dropped to their lowest in almost two months.
Gains among insurance shares, such as American International Group, limited the benchmark's loss and pushed the Dow Jones industrial average higher for a third day. A rise in Microsoft, which traded excluding its $3-a-share dividend, helped lift the Nasdaq composite index.
The S&P 500 fell 0.36, to 1183.81.
The benchmark on Friday had rallied to its highest close since Aug. 24, 2001, capping off its best three-week advance in two years. The Dow rose 11.23, or 0.1 percent, to 10,550.24, and the Nasdaq rose 8.75, or 0.4 percent, to 2094.09.
Exxon led the drop in energy stocks, falling 84 cents, to $49.58. The stock has jumped 21 percent this year. ChevronTexaco fell $1.60, to $52.97. Chevron shares have climbed 23 percent in 2004.
AIG increased $1.81, to $62.84. The world's biggest insurer is near an agreement with the Securities and Exchange Commission that would end the agency's probe into whether the company helped PNC Financial Services Group with accounting fraud, the Wall Street Journal said. MetLife, the second-biggest U.S. life insurer, rose $1.30, to $39.70. Prudential Financial, the No. 2 group life insurer, climbed $1.24, to $49.24.
Computer-related stocks may have gotten a lift as investors bet that some of Microsoft's $32 billion dividend payment will be reinvested, "perhaps particularly in technology stocks," wrote Banc of America Securities Chief Investment Strategist Tom McManus in a Nov. 12 note. Microsoft traded excluding the dividend, which will be paid on Dec. 2. The shares rose 50 cents, to $27.39.
Lowe's, the world's No. 2 home-improvement chain, dropped $1, to $59.25, after the company didn't raise its 2004 forecast. Third-quarter profit was 66 cents a share, 1 cent more than the average forecast of analysts surveyed by Thomson Financial.
* The New York Stock Exchange composite index fell 11.12, to 7003.06; the American Stock Exchange index fell 4.98, to 1351.26; and the Russell 2000 index of smaller-company stocks rose 1.88, to 623.86.
* Advancing issues outnumbered declining ones by 5 to 4 on the NYSE and the Nasdaq Stock Market. NYSE trading volume fell to 1.45 billion shares, from 1.53 billion on Friday, and Nasdaq volume totaled 1.87 billion, down from 1.98 billion.
* The price of the Treasury's 10-year note fell 31 cents per $1,000 invested, and its yield rose to 4.19 percent, from 4.18 percent on Friday.
* The dollar fell against the Japanese yen and rose against the euro. In late New York trading, a dollar bought 105.36 yen, down from 105.53 late Friday, and a euro bought $1.2940, down from $1.2982.
* Light, sweet crude oil for December delivery settled at $46.87, down 45 cents, on the New York Mercantile Exchange.
* Gold for current delivery fell to $437.00 a troy ounce, from $437.90 on Friday, on the New York Mercantile Exchange's Commodity Exchange.