The Dow Jones industrial average passed 13,300 for the first time yesterday and then pulled back to 13,253.16 in the first hour of trading today as investors decided to cash in some of their profits, the Associated Press reported. Alcoa Inc.’s hostile bid of $27 billion for Canadian aluminum rival Alcan Inc. helped boost the Dow, while technology stocks struggled to hold on to gains.

Yesterday the federal government announced that consumers boosted their borrowing in March at the fastest pace in four months, causing consumer credit to increase at an annual rate of 6.7 percent. The Federal Reserve will meet tomorrow to decide on interest rates, which investors are watching closely.

“We’re kind of waiting for macroeconomic news to shape the outlook for the rest of the year,” said Les Satlow, portfolio manager at Cabot Money Management. “I do believe the market will spend some time here trying to catch its breath or even pull back a bit.”

Meanwhile, the Standard & Poor’s 500 index rose 3.86 to 1,509.48. Last week, it moved above the 1,500 level for the first time in about seven years. The Nasdaq composite index fell 1.20 to 2,570.95.