Stocks slip on quiet day of trading
NEW YORK — A quiet day of trading left stock indexes mixed Monday.
There was little in the way of news to shake the market out of a summertime stupor, other than a report from the Institute for Supply Management that the U.S. service sector expanded in July, helped by a rise in new orders.
It was the latest piece of data that economists and investors puzzled through as they try to judge how well the U.S. economy is doing.
The Standard & Poor’s 500 index breached 1,700 points for the first time last week. An improving U.S. economy and rising corporate profits have helped push the index up 19.7 percent this year.
The S&P 500 index slipped 2.53 points, or 0.2 percent, to close at 1,707.14 on Monday. Utilities led eight of the 10 industry groups in the index lower. Technology and consumer-staples companies eked out gains.
The Dow Jones industrial average fell 46.23 points, or 0.3 percent, to 15,612.13.
The technology-heavy Nasdaq composite index rose 3.36 points, or 0.09 percent, to 3,692.95.
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