U.S. stocks eked out modest to slight gains on Monday, powered by a climb in shares of technology-related and communication services shares.
The Dow Jones Industrial Average closed up 0.1% at 26,112, picking up 23 points, the S&P 500 index rose 0.1% to 2,890, while the Nasdaq Composite Index advanced 0.6% to 7,845.
The gains came as a gauge of manufacturing activity in the New York area, the Empire State manufacturing index, plummeted 26.4 points to negative 8.6 in June, a record decline. Economists had expected a reading of positive 10, according to a survey by Econoday.
The weak survey data come as the Federal Reserve commences its two-day policy meeting Tuesday, where the central bank may indicate its willigness to reduce benchmark borrowing costs amid fears of the fallout from global trade tensions and a slowdown in the economy. In corporate news, shares of Facebook Inc. gained as interest grew around its reported cryptocurrency offering, Libra coin, set to debut on Tuesday.
Source : MarketWatch