In economic data, the Institute for Supply Management reported contraction in manufacturing activity for the 12th straight month. However the reading of 35.6 came in better than expected. Construction spending fell 1.4% in December while consumer spending fell 1%.
The Dow Jones slipped 64.03 points, or 0.80%, to 7,936.83. The S&P 500 index slipped 0.44 points, or 0.05%, to 825.44. The Nasdaq composite index gained 18.01 points, or 1.22%, to 1,494.43.
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