US stock market turns lower in afternoon trading
Source: AP-EXCITE
NEW YORK (AP) — U.S. stocks were mostly lower in afternoon trading Tuesday even after news that the economy was gaining strength. The S&P 500 dipped back below 2,000 points as oil producers weighed the index down.
Investors looked ahead to major events later this week. The European Central Bank holds a meeting on Thursday, and a key U.S. jobs report comes out Friday.
KEEPING SCORE: The Dow Jones industrial average fell 65 points, or 0.4 percent, to 17,032 as of 1:20 p.m. Eastern time. The Standard & Poor's 500 index dipped six points, or 0.3 percent, to 1,996. The Nasdaq rose two points, or a fraction of a percent, to 4,583.
ECONOMY: Two reports out Tuesday offered encouraging signs of U.S. economic growth. The Institute for Supply Management, a trade group, said its gauge of manufacturing reached 59 in August, the highest level since March 2011, buoyed by new orders for goods and increased production. Separately, the Commerce Department said that construction spending surged 1.8 percent in July, the biggest increase in more than 2 years.
FULL story at link.
FILE - In this Sept. 30, 2008 file photo, a Wall St. sign hangs in front of the New York Stock Exchange. U.S. stocks wavered in morning trading Tuesday, Sept. 2, 2014, as investors looked ahead to major economic reports out this week. (AP Photo/Mark Lennihan, File)
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