NEW YORK ( TheStreet) -- U.S. stocks fluctuated on Monday after the Dow Jones Industrial Average and the S&P 500 hit record highs on Friday following a surprise move by the Bank of Japan to ramp up stimulus in the world's third-largest economy.
European stocks declined while Asian shares ended Monday's session mixed after a report pointed to manufacturing weakness in China, the world's second-largest economy. A similar report in the eurozone said gains in the manufacturing sector in the eurozone were modest.
The S&P 500 flitted in and out of positive territory on Monday. The S&P 500 was rising slightly. The index is coming off its best two-week period since December 2011. Nasdaq, which closed on Friday at levels not seen since the dot-com bubble burst, rose 0.4%. Nasdaq has risen 11 of the past 13 sessions.
Markit's U.S. manufacturing purchasing managers index registered a final 55.9 in October, the lowest final reading since August. In September, the index was 57.9. However, the Institute for Supply Management index for October was 59.0, up from 56.6 in September, on a surge in new orders. Sixteen of 18 manufacturing industries rose in October.
U.S. construction spending for September declined 0.4%. It was the second straight month that construction spending declined.
Ford (F) - Get Report said total U.S. vehicle sales in October declined 1.7%. The stock slipped 0.9%. Sales in October at General Motors (GM) - Get Report rose 0.2% but came in below expectations. GM shares fell 1.6%.
The Japanese yen fell to a seven-year low against the dollar following the surprise stimulus announcement from the Bank of Japan on Friday.
Benchmark U.S. crude fell to below $80 a barrel.
-- Written by Joseph Woelfel
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