US close: Stocks mixed after raft of economic data

US stocks were little changed on Monday as investors sifted through mixed economic data and weighed remarks from a Federal Reserve policymaker on interest rates.

The Dow Jones Industrial Average finished down 0.11%, the Nasdaq rose 0.13% and the S&P 500 closed flat.

Markets had started in negative territory after weak Chinese manufacturing data added to worries about the slowdown in the world's second largest economy.

The official purchasing managers’ index for China manufacturing fell to 49.7 in January from 49.7 the previous month, missing analysts’ expectations for a reading of 49.6 and below the 50 level that separates a contraction from an expansion in sector activity.

The private PMI from Caixin on China manufacturing also registered a contraction in January at 48.4. However it was better than December’s 48.2 and analysts’ estimates of 48.1.

Oil prices also weighed on markets, falling again on dimming prospects of a deal on a production cut by global oil producers to address the supply glut. West Texas Intermediate crude fell 7.1% to $31.37 per barrel and Brent crude dropped 5.7% to $34.04 per barrel at 0936 GMT.

Equities were given a boost later in the session after Fed Vice Chairman Stanley Fischer suggested that expectations that the central bank will barely raise interest rates this year could be correct.

Last month Fischer said the Fed believed estimates at the time for two rate increases this year were “too low" .

However, the policymaker changed his tune on Monday, pointing to worries about the impact of the global market selloff .

“At this point, it is difficult to judge the likely implications of this volatility. If these developments lead to a persistent tightening of financial conditions, they could signal a slowing in the global economy that could affect growth and inflation in the United States,” he said.

US data

Markit’s final US manufacturing PMI rose to 52.4, up a touch from December’s 38-month low of 51.2 but still the second-lowest reading since October 2013 and weaker than the flash estimate of 52.7. Analysts had forecast 52.6 in December.

ISM’s manufacturing data showed another contraction in sector activity. The index increased to 48.2 in January from 48.0US construction spending nudged up 0.1% to $1.12trn in December compared with a downwardly-revised 0.6% decline the previous month, missing expectations for a 0.6% increase.

US construction spending nudged up 0.1% to $1.12trn in December compared with a downwardly-revised 0.6% decline the previous month, missing expectations for a 0.6% increase.

US personal spending was unchanged in December, missing expectations for a 0.1% increase and following November’s 0.4% gain, according to the Commerce Department. Personal income increased 0.3% in December, slightly higher than forecasts for 0.2% growth and after a 0.5% rise in November.

Google's Alphabet reports solid Q4 results

Alphabet reported fourth quarter sales, excluding the costs of acquiring traffic, rose to $17.3bn from $14.5bn, beating estimates of $16.9bn. Adjusted profits came in at $8.67 a share, ahead of forecasts of $8.08 a share.

Aetna advanced as it reported a 38% jump in fourth quarter profits as medical costs fell.

Questar Corp. surged on news that utility company Dominion Resources Inc. plans to buy it for $4.4bn.

The dollar was down against major currencies, falling 1.35% against the pound, 0.57% against the euro and 0.15% versus the yen.

S&P 500 - Risers
Sysco Corp. (SYY) $43.15 +8.39%
CONSOL Energy Inc. (CNX) $8.39 +5.67%
Seagate Technology Plc (STX) $30.41 +4.68%
AutoNation Inc. (AN) $45.14 +4.37%
Chipotle Mexican Grill Inc. (CMG) $472.64 +4.34%
Centerpoint Energy Inc. (CNP) $18.62 +4.20%
Signet Jewelers Ltd (SIG) $120.62 +3.98%
United States Steel Corp. (X) $7.26 +3.71%
Air Products & Chemicals Inc. (APD) $131.26 +3.59%
Alliance Data Systems Corp. (ADS) $206.56 +3.39%

S&P 500 - Fallers
Roper Technologies Inc (ROP) $163.73 -6.80%
Devon Energy Corp. (DVN) $26.06 -6.59%
Cimarex Energy Co (XEC) $87.23 -6.20%
Murphy Oil Corp. (MUR) $18.40 -6.17%
Transocean Ltd. (RIG) $9.79 -6.05%
ONEOK Inc. (OKE) $23.44 -5.90%
Chesapeake Energy Corp. (CHK) $3.21 -5.31%
Range Resources Corp. (RRC) $28.26 -4.40%
Southwestern Energy Co. (SWN) $8.50 -4.39%
Apache Corp. (APA) $40.82 -4.04%

Dow Jones I.A - Risers
American Express Co. (AXP) $54.70 +2.24%
Nike Inc. (NKE) $63.16 +1.85%
Wal-Mart Stores Inc. (WMT) $67.50 +1.72%
Verizon Communications Inc. (VZ) $50.76 +1.58%
Boeing Co. (BA) $121.56 +1.19%
E.I. du Pont de Nemours and Co. (DD) $53.30 +1.02%
Caterpillar Inc. (CAT) $62.70 +0.74%
McDonald's Corp. (MCD) $124.61 +0.67%
Unitedhealth Group Inc. (UNH) $115.89 +0.63%
Home Depot Inc. (HD) $126.51 +0.60%

Dow Jones I.A - Fallers
Exxon Mobil Corp. (XOM) $76.29 -2.00%
General Electric Co. (GE) $28.64 -1.58%
3M Co. (MMM) $148.73 -1.50%
Chevron Corp. (CVX) $85.29 -1.36%
Cisco Systems Inc. (CSCO) $23.48 -1.30%
Goldman Sachs Group Inc. (GS) $159.65 -1.18%
JP Morgan Chase & Co. (JPM) $58.86 -1.08%
Pfizer Inc. (PFE) $30.17 -1.05%
Apple Inc. (AAPL) $96.43 -0.93%
Walt Disney Co. (DIS) $95.15 -0.70%

Nasdaq 100 - Risers
Seagate Technology Plc (STX) $30.41 +4.68%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $47.06 +3.72%
Tesla Motors Inc (TSLA) $196.94 +3.00%
Broadcom Limited (AVGO) $137.68 +2.97%
Incyte Corp. (INCY) $72.58 +2.86%
Facebook Inc. (FB) $115.09 +2.57%
Charter Communications Inc. (CHTR) $175.75 +2.56%
Western Digital Corp. (WDC) $49.19 +2.52%
Netflix Inc. (NFLX) $94.09 +2.45%
Check Point Software Technologies Ltd. (CHKP) $80.63 +2.31%

Nasdaq 100 - Fallers
Mattel Inc. (MAT) $26.76 -3.01%
Amazon.Com Inc. (AMZN) $574.81 -2.08%
Tractor Supply Company (TSCO) $86.72 -1.80%
JD.com, Inc. (JD) $25.59 -1.69%
Alexion Pharmaceuticals Inc. (ALXN) $143.50 -1.67%
Ctrip.Com International Ltd. Ads (CTRP) $41.97 -1.66%
Cognizant Technology Solutions Corp. (CTSH) $62.33 -1.55%
Vimpelcom Ltd Ads (VIP) $3.24 -1.52%
Kraft Heinz Co. (KHC) $77.01 -1.35%
Baidu Inc. (BIDU) $161.10 -1.33%