Stock market today: Wall Street drifts to mixed finish after the latest signal of a slowing economy

NEW YORK (AP) — U.S. stocks drifted to a mixed finish Monday following the latest signal showing the U.S. economy is slowing.

The S&P 500 edged up by 5.89 points, or 0.1%, to 5,283.40, even though the majority of stocks within the index fell. The Dow Jones Industrial Average dropped 115.29, or 0.3%, to 38,571.03, and the Nasdaq composite rose 93.65, or 0.6%, to 16,828.67.

Treasury yields also slid in the bond market after a report showed U.S. manufacturing shrank in May for the 18th time in 19 months, according to the Institute for Supply Management. Manufacturing has been hit particularly hard by high interest rates meant to get high inflation under control.

“Demand remains elusive as companies demonstrate an unwillingness to invest due to current monetary policy and other conditions,” said Timothy Fiore, chair of the Institute for Supply Management’s manufacturing business survey committee.

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