NEW YORK, Oct. 2 (Xinhua) -- U.S. stocks traded mixed on Monday, the first trading day of the fourth quarter, as investors digested major economic data.
At midday, the Dow Jones Industrial Average added 70.19 points, or 0.31 percent, to 22,475.28. The S&P 500 edged up 2.24 point, or 0.09 percent, to 2,521.60. The Nasdaq Composite Index decreased 11.60 points, or 0.18 percent, to 6,484.36.
On the economic front, economic activity in the manufacturing sector expanded in September, and the overall economy grew for the 100th consecutive month, according to the latest report released by the Institute for Supply Management (ISM).
The manufacturing index, also known as the purchasing managers index (PMI), registered 60.8 in September, an increase of 2 percentage points from the August reading of 58.8 percent, said the ISM.
U.S. construction spending rebounded in August after two months of declines.
The commerce department said on Monday that construction spending was at 1.22 trillion U.S. dollars, 0.5 percent above the revised July estimate, and 2.5 percent above the August 2016 figure.
The Trump administration and U.S. Congress Republicans last week released a unified framework for tax code reform, which will cut tax rates for businesses and individuals while lacks details on how to consolidate fiscal position in face of big tax cuts.
Analysts said the excitement continued throughout the week and lifted equities.
Meanwhile, Shares of casino operators fell on Monday after the deadly shooting in Las Vegas. MGM Resorts International, which owns the Mandalay Bay hotel near where the shooting occurred, fell more than five percent in intraday trading. Enditem
