US STOCKS-Wall St falls as manufacturing data disappoints

lunes 2 de febrero de 2015 11:19 GYT
 

* Dow, S&P 500 coming off worst month since Jan 2014

* Exxon earnings fall less than expected

* ISM manufacturing index misses forecasts

* Indexes down: Dow 0.6 pct, S&P 0.6 pct, Nasdaq 1 pct (Updates to market open, adds manufacturing data)

By Ryan Vlastelica

NEW YORK, Feb 2 (Reuters) - U.S. stocks fell on Monday as disappointing reads on consumer spending and the manufacturing sector added to recent concerns that economic data was pointing to slowing conditions.

Trading was volatile, with the S&P 500 moving between positive and negative territory. Energy names were stronger on the day, lifted by both higher oil prices and better-than-expected results at Exxon Mobil, but otherwise losses were widespread.

Wall Street has been in a downtrend lately, with January the worst month for the Dow and S&P 500 in a year. The S&P fell more than 1 percent in three of the past four sessions, while market swings have gotten larger of late. Over the past 14 days the S&P has moved an average of 30 points between its high and low of the session. On January 9, that average was under 20.

"Fundamentals still look strong, but earnings are really coming in under expectations, which is creating a general concern that is leading to heavy volatility," said James Liu, global market strategist for JPMorgan Funds in Chicago. "We got used to good earnings growth and data and now we're facing the first real test of that sentiment not always being true."   Continuación...