Despite Manufacturing Growth, Wall Street Starts November with Losses
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tarabird/iStockphoto/Thinkstock(NEW YORK) — The month of November got off to an unsteady beginning on Wall Street, with two of the three major indices retreating from all-time highs.
The Dow Jones Industrial Average, which had closed at its highest point ever on Friday, dipped 24.28 on Monday, closing at 17,366.24.
The Nasdaq climbed 8.17 to a finish of 4,638.91, while the S&P 500, also coming off a record close, slipped 0.24 to 2,017.81.
The Institute for Supply Management released data on Monday that showed the manufacturing sector expanded in October for the 17th consecutive month, and that the economy overall grew for the 65th consecutive month. That data showed strong growth in orders, production and hiring and slower increases in prices.
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