Friday, 3 Jul 2020

U.S. stocks pare gains after surprise fall in December construction spending

(Reuters) – Wall Street’s main indexes pared gains on Monday after data showed U.S. construction spending unexpectedly fell in December, further evidence that the economy lost momentum at the tail end of 2018.

The Commerce Department said construction spending declined 0.6 percent after an unrevised 0.8 percent increase in November.

At 10:10 a.m. ET the Dow Jones Industrial Average was unchanged at 0.00, the S&P 500 was up 7.61 points, or 0.27 percent, at 2,811.30 and the Nasdaq Composite was up 28.80 points, or 0.38 percent, at 7,624.16.

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