US stocks dip; Apple rises on iPhone order report

Wall Street stocks dipped Monday amid a dearth of economic data for guidance, while Apple climbed following a bullish report on new iPhone orders.

Analysts described trade as sluggish, with the market keeping its focus on US monetary policy and the prospects of higher interest rates. Though Monday was quiet as far as economic data, this week's calendar includes data on home sales, durable goods orders and the second estimate of US economic growth for the first quarter.

Apple jumped 1.3 percent after Taiwan's Economic Daily News reported the technology giant ordered at least 72 million units of the upcoming iPhone 7 series, a significantly higher figure than the 65 million-level previously predicted by some analysts.

At the closing bell, the Dow Jones Industrial Average was at 17,497.66, down less than 0.1 percent.

The broad-based S&P lost 0.2 percent at 2,048.42, while the tech-rich Nasdaq Composite Index shed 0.1 percent at 4,765.78.