US STOCKS-Wall St slips after Japan, China data; energy drags

lunes 8 de diciembre de 2014 10:54 GYT

* Merck to buy Cubist Pharma for $102 per share

* Japan, China data disappoints

* McDonald's falls after November sales

* Indexes down: Dow 0.12 pct, S&P 0.11 pct, Nasdaq 0.12 pct (Updates to market open)

By Chuck Mikolajczak

NEW YORK, Dec 8 (Reuters) - U.S. stocks dipped on Monday, after soft data in China and Japan raised global growth concerns, while a further drop in oil prices weighed on energy shares.

Data showed China's exports grew at a slower-than-expected pace and imports dropped 6.7 percent in November, while Japan's economy shrank more than expected in the third quarter.

The data put a damper on recent enthusiasm over the U.S. economy, after a strong payrolls report on Friday sent the S&P 500 to its 49th record close of the year. The benchmark S&P index has risen for seven weeks, its longest stretch in nearly a year, and is up more than 11 percent from an October low.

"Considering the economic news that came from abroad the markets are really not under severe pressure," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.   Continuación...