* Dow, S&P 500, Nasdaq mark third straight monthly gain
* U.S. stock market closed at 1 p.m.; volume light
* Retailers in view as shopping season unofficially starts
* Dow down 0.1 pct, S&P 500 off 0.1 pct, Nasdaq up 0.4 pct
By Luke Swiderski
NEW YORK, Nov 29 (Reuters) - The Dow and the S&P 500 dipped
in thin holiday trading on Friday, but technology stocks helped
lift the Nasdaq to a 13-year high.
The Nasdaq got a boost from the technology sector, with
Apple up 1.9 percent at $556.07, Microsoft Corp
up 1.4 percent at $38.13 and Amazon Inc up 1.8
percent at $393.62.
"It's almost as if people are rotating into the bigger
blue-chip names, especially the technology big caps. We wouldn't
be shocked at all to see the small and mid-cap names lag a
little bit," said Ryan Detrick, senior technical strategist with
Schaeffer's Investment Research, in Cincinnati.
But with the both the S&P and Dow on an eight-week winning
streak, investors may be cautious in adding new positions.
"We expect, and we recommend to our clients, that if they
have exceeded their strategic allocation to equities, to take
profit at these levels," said Paul Mangus, head of equity
research and strategy for Wells Fargo Private Bank, in
Volume was light, with slightly over 2 billion shares traded
on all U.S. platforms, according to BATS exchange data, as many
U.S. investors remained out following the Thanksgiving holiday
on Thursday. The U.S. stock market ended its regular session
three hours early at 1 p.m. (1800 GMT).
The Dow Jones industrial average fell 10.92 points or
0.07 percent, to end at 16,086.41. The S&P 500 slipped
1.42 points or 0.08 percent, to finish at 1,805.81. But the
Nasdaq Composite added 15.136 points or 0.37 percent, to
close at 4,059.886.
Retail stocks were in focus as the holiday shopping season
gets under way. Many stores opened on Thanksgiving for the first
time ever this year, but stores had to resort to steep discounts
and shoppers appeared to be making careful purchases.
The S&P retail index rose 0.3 percent. Among some
of the most active retail names, Target Corp declined
0.8 percent to $63.93, Best Buy Co Inc jumped 2.4
percent to $40.55, and J.C. Penney Co gained 1.1 percent
In the health-care sector, CVS Caremark Corp shares
gained 0.3 percent to $66.96 after Wednesday's news that CVS
will buy drug infusion services provider Coram LLC for $2.1
billion. The transaction will let CVS Caremark bolster its
pharmacy benefits management business by offering cost-effective
delivery of specialty drugs.