US STOCKS-S&P dips after record; China data, Boeing weigh

lunes 10 de marzo de 2014 16:43 GYT
 

* China trade balance unexpectedly swings into deficit

* Boeing finds cracks in wings of Dreamliners in production

* Facebook shares hit another record after UBS raises target

* Indexes off: Dow 0.21 pct, S&P 0.05 pct, Nasdaq 0.04 pct

By Rodrigo Campos

NEW YORK, March 10 (Reuters) - U.S. stocks dipped on Monday, weighed down by soft data out of China and Boeing's latest production setback.

Merger and acquisition announcements, however, as well as company-specific news including on Facebook and Alexion Pharma, helped keep the S&P 500 and Nasdaq from bigger losses.

China's exports unexpectedly tumbled 18.1 percent in February, against expectations for a 6.8 percent rise, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy.

"There's reasons to be a little cautious on the market. There's a little bit of profit-taking," said Paul Zemsky, head of asset allocation at ING Investment Management in New York.   Continuación...