US STOCKS-Wall St edges up after recent losses, mixed data

lunes 1 de junio de 2015 16:28 GYT

* Construction spending up, manufacturing growth picks up

* April consumer spending flat

* Intel falls on $16.7 bln Altera buy

* Indexes up: Dow 0.2 pct, S&P 0.2 pct, Nasdaq 0.3 pct (Updates to close)

By Caroline Valetkevitch

June 1 (Reuters) - U.S. stocks ended with modest gains on Monday, recovering part of last week's losses in a session marked by cautious trading as investors reacted to mixed economic data.

A report from ISM showed the pace of manufacturing growth rose in May. Other data showed construction spending surged in April but consumer spending was unexpectedly flat.

Investors are weighing data to try to guess how soon the Federal Reserve might raise interest rates. Boston Fed President Eric Rosengren said with little evidence of a rebound, the Fed is in no position to start raising interest rates for the first time since 2006.

"The things that seem to be driving the market today are a bounce-back from the selling and some pretty good economic data. But as the day has progessed, some of the enthusiasm has worn off since the debate continues as to when the Fed is going to raise rates," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.   Continuación...