US STOCKS-Wall St edges higher after global manufacturing data

miércoles 1 de junio de 2016 14:51 GYT

* Global factory data muted; U.S. grows for 3rd month

* GM, Ford shares down as U.S. auto sales drop

* Michael Kors jumps on strong sales growth

* Dow down 0.02 pct, S&P up 0.08 pct, Nasdaq up 0.18 pct (Updates to late afternoon)

By Lewis Krauskopf

June 1 (Reuters) - Wall Street kicked off June on a sluggish note on Wednesday, as investors sifted through a raft of manufacturing data from around the world.

Global manufacturing activity remained stuck in a rut last month with factory output from Asia, Europe and the Americas barely improving, surveys released on Wednesday showed.

But major U.S. stock indexes recovered from steeper losses earlier in the session after a report showed U.S. manufacturing grew for a third straight month in May, even as factories appeared to be taking in fewer deliveries from their suppliers. Stocks also rebounded as oil prices pared losses.

"The numbers are not bad; they're just not good either," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, Ohio. "We're kind of trapped in limbo that way with respect to a lot of the fundamentals."   Continuación...