Arab Today, arab today us stocks mixed after weak manufacturing data
Last Updated : GMT 22:53:23
Arab Today, arab today
Arab Today, arab today

US stocks mixed after weak manufacturing data

Arab Today, arab today

Arab Today, arab today US stocks mixed after weak manufacturing data

New York - AFP

US stocks traded mixed on Monday after an economic report pointed to weaker-than-expected manufacturing activity. About 45 minutes into trade, the Dow Jones Industrial Average, which closed Thursday at a new all-time high ahead of the three-day holiday weekend, added 3.65 points (0.03 percent) at 14,582.19. But the broad-based S&P 500, which also notched a record performance Thursday, slipped 3.44 points (0.22 percent) to 1,565.75, while the tech-rich Nasdaq Composite Index dropped 11.43 (0.35 percent) to 3,256.10. The Institute for Supply Management said its manufacturing sector activity index came in at 51.3 in March, below the 54.0 percent expected by analysts. The results indicate \"expansion in manufacturing for the fourth consecutive month, but at a slower rate,\" the ISM said. Cisco Systems gained 1.8 percent after announcing a 21 percent increase in its quarterly cash dividend. Electric car manufacturer Tesla Motors jumped 14.3 percent after announcing that it was boosting its profit forecasts due to stronger-than-expected vehicle sales. Cal-Maine Foods, which markets and distributes shell eggs, added 2.4 percent after reporting higher quarterly earnings, even as it warned of higher feed costs. Greeting-card manufacturer American Greetings shot up 12.3 percent after announcing a plan to be acquired in an $878 million deal. Onyx Pharmaceuticals added 2.0 percent after announcing that it would present new clinical research at the International Myeloma Worshop in Kyoto, Japan. The yield on the 10-year Treasury held at 1.85 percent, the same level as late Thursday, while the 30-year edged up to 3.10 percent from 3.09 percent. Bond prices move inversely to yields.

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