Wall Street’s major averages finished mixed as investors pored through a slew of economic data.
The Dow Jones Industrial Average on Monday sank 86.11 points, or 0.31 per cent, to 27,844.91. The S&P 500 rose 9.14 points, or 0.27 per cent, to 3,381.99. The Nasdaq Composite Index jumped 110.42 points, or 1 per cent, to 11,129.73, Xinhua reported.
Seven of the 11 primary S&P 500 sectors closed higher, with consumer discretionary up 1.21 per cent, leading the advancers. Financials dipped 1.54 per cent, the worst-performing group.
Meanwhile, US-listed Chinese companies traded mostly higher, with eight of the top 10 stocks by weight in the S&P US. Listed China 50 index ending the day on an upbeat note.
On the data front, US home builder confidence rose six points to 78 in August, matching the record set in 1998, showed the latest National Association of Home Builders/Wells Fargo Housing Market Index released on Monday.
The Empire State manufacturing index, a key metric to gauge business activity growth in New York State, fell to 3.7 in August from 17.2 in July, signalling a slower pace of growth, the New York Federal Reserve said on Monday. Economists had expected a reading of 17, according to a survey by Econoday.
US equities eked out modest gains for the week ending Friday that saw the Dow advance 1.8 per cent, the S&P 500 and the Nasdaq rise 0.6 per cent and 0.1 per cent, respectively.