By Caroline Valetkevitch
NEW YORK (Reuters) – US equities barely swung Monday, with weak gains in shares in Apple offset by mixed economic data that added caution to the protracted trade war between the US and China.
Apple Inc (O 🙂 rose 0.5% after US trade regulators approved 10 out of 15 iPhone manufacturer tax exemption requests. Micron Technology Inc (O :), which supplies components to Apple, advanced 0.9%.
U.S .. employment in the service sector shrank for the first time in 9-1
Earlier in the day, a survey showed a decline in industry in Germany, Europe's largest economy.
"What has been a question in the market is whether or not we are heading for a recession over the next 12 months. So all data releases are becoming increasingly important," said Quincy Krosby, chief strategist for Prudential Financial (NYSE 🙂 in Newark, New Jersey.
Any positive data gives investors hope that the United States will be able to avoid a recession, she said.
Investors have also been wary of progress in Sino-American trade talks after a Chinese agricultural delegation canceled a visit to Montana.
Dow Jones Industrial Average () rose 14.92 points, or 0.06%, to 26,949.99, S&P 500 () lost 0.29 points, or 0.01%, to 2,991.78 and the Nasdaq Composite () fell 5.21 points, or 0.06%, to 8.112.46.
"People are tentative and want to sit on the sidelines. We sit here just below the heights, and there is no urgent need to chase them unless they break out, and of course no one will sell them either," said Michael O & # 39; Rourke, chief strategist for JonesTrading in Greenwich, Connecticut.
American Express (N 🙂 shares gained 1.2% after announcing a buyback plan and a dividend increase.
Juniper Networks Inc (N 🙂 rose 2% as Needham upgraded the network machine's stock to "buy."
Boeing (NYSE 🙂 <.ba.n> dropped following a Reuters report that European antitrust regulators were set to investigate the planner's bid of $ 4.75 billion for the commercial aircraft arm of Brazil-based Embraer SA (SA :).
In addition, the head of the US Federal Aviation Administration was to detail the progress of the Boeing 737 MAX flight request to international air regulators.
Social Networking Facebook Inc (O 🙂 fell 1.6% and was among the biggest features of the S&P 500 along with Amazon.com (O :), down 0.5%.
Providing issues amounted to a 1.22 to 1 ratio decrease in NYSE declines; on the Nasdaq favored a 1.21-to-1 ratio decline.
The S&P 500 posted 19 new 52-week highlights and a new low; Nasdaq Composite registered 42 new highs and 50 new lows.
The volume of stock exchanges in the United States was 5.90 billion shares, compared to 7.1 billion for the entire session over the last 20 trading days.