By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stocks skipped between gains and losses early Monday after data showed factory orders sliding a bit more than expected in August.
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“Given the run of the past six weeks, we could see stocks meander or decline over the next week or two to work off some of the excess enthusiasm,” Paul Nolte, managing director at Dearborn Partners wrote in a note.
The Dow Jones Industrial Average (DJIA 10,780, -49.88, -0.46%) was recently up 6.51 points to 10,836.19, with 19 of its 30 components rising.
The S&P 500 (SPX 1,137, -8.97, -0.78%) fell half a point to 1,145.78, with natural-resource companies hardest hit and telecommunications firms performing best among its 10 sectors.
The Nasdaq Composite Index (COMP 2,341, -29.64, -1.25%) declined 5.23 points to 2,365.53.
Separate reports had U.S. factory orders falling 0.5% in August, slightly worse than the 0.4% drop anticipated by analysts. And an industry group reports sales of homes across the country climbed 4.3% in August.
For every three stocks rising, four fell on the New York Stock Exchange, where 186 million shares had traded as of 10:25 a.m. Eastern.
