Greece’s second bailout from the euro-zone countries will be in place once conditions are finalized. The first of the money can be paid out after the completion of a bond swap between Athens and private investors, which is to be concluded by March 9.
Those concerns aside, stocks’ gains year to date could be reason enough for investors to pull back. The S&P 500 has risen 9 percent for the year so far.
“Once you start hitting targets, that tells you something,” said John Kosar, director of research with Asbury Research in Chicago.
“From a pure money-management standpoint, the S&P didn’t make any money last year. If you’re a manager and sitting on almost 10 percent profit as of March 1st, wouldn’t you want to take a little bit off the table?”