Stocks Decline Monday, Dow Down 54 Points -- US Commmentary

(RTTNews) - Stocks were lower Monday as Friday's rally fizzled out and traders look ahead to the jobs report due out at the end of the week.

The Dow Jones Industrial Average fell 54.30 points, or 0.3%, to close at 18,253.85 the S&P 500 Index declined 7.07 points, or 0.3%, to finish at 2,161.20. The Nasdaq Composite index closed down 11.13 points, or 0.2%, at 5,300.87.

The Federal Reserve's GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 2.2 percent on October 3, down from 2.4 percent on September 30.

After this morning's construction spending report from the U.S. Census Bureau, the forecast of third-quarter real nonresidential structures investment growth fell from 8.4 percent to 4.7 percent and the forecast of third-quarter real government spending growth declined from 0.8 percent to 0.1 percent.