Credit: Investing.com - U.S. stocks edged lower on Monday after a weaker-than-expected U.S. service-sector report stoked concerns the December jobs report due for release on Friday as well as earnings may disappoint.
At the close of U.S. trading, the Dow Jones Industrial Average fell 0.27%, the S&P 500 index fell 0.25%, while the Nasdaq Composite index fell 0.44%.
Stock prices held lower after the Institute of Supply Management said its non-manufacturing purchasing managers' index fell to 53.0 in December from 53.9 in November. Analysts were expecting the index to increase to 54.5.
The data served as a reminder for many investors that the U.S. economy is still battling headwinds on its road to recovery, which sent investors jumping to the sidelines.
Fourth-quarter earnings begin publishing this week, while on Friday, the Bureau of Labor Statistics will release its December jobs report, and uncertainty over the health of which kept many investors out of stocks on Monday.
Leading Dow Jones Industrial Average performers included Goldman Sachs, up 0.70%, Verizon, up 0.63%, and JPMorgan Chase, up 0.58%.
The Dow Jones Industrial Average's worst performers included Microsoft, down 2.13%, Caterpillar, down 1.32%, and DuPont, down 1.24%.
European indices, meanwhile, finished largely lower.
After the close of European trade, the EURO STOXX 50 fell 0.19%, France's CAC 40 fell 0.47%, while Germany's DAX 30 fell 0.08%. Meanwhile, in the U.K. the FTSE 100 finished flat.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
