NEW YORK: US stocks Monday finished lower amid mixed US economic data to kick off the first full week of trade of 2014.
At the closing bell, the Dow Jones Industrial Average fell 44.89 (0.27 percent) to 16,425.10.
The broad-based S&P 500 declined 4.69 (0.26 percent) to 1,826.68, while the tech-rich Nasdaq Composite Index gave up 18.23 (0.44 percent) at 4,113.68.
Peter Cardillo, chief market economist at Rockwell Global Capital, said investors were somewhat disappointed by a report showing slowing growth in the service sector in December.
On the flip side, Cardillo pointed to a strong report on new factory orders, which in November reached their highest level since 1992.
Cardillo said the market is unlikely to record major moves before Wednesday's release of the minutes from the Federal Reserve's December meeting, and Friday's monthly jobs report.
"What we're seeing is basically a market that's on hold," Cardillo said.
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