Construction, manufacturing news helps stocks
June 1, 2010 Stocks opened lower after another drop in the euro, which hit a
four-year low.
The Commerce Department says construction spending has risen by
the biggest amount in nearly a decade. The 2.7 percent April gain
was the largest since August 2000. Economists forecast spending
would be flat.
The Institute for Supply Management says its manufacturing index
fell to 59.7 in May from 60.4 in April. The figure topped
economists' forecast.
At midday, the Dow Jones industrials are up 17. They had been
down 98. The Standard & Poor's 500 index is down 3 at 1,087. The
Nasdaq composite index is down 2 at 2,255.
