Stocks Dip As Friday's Momentum Fades - U.S. Commentary

(RTTNews) - Stocks are showing modest weakness in the early stages of Monday's session, as Friday's upward momentum has petered out and traders look ahead to the jobs report due out at the end of the week.

Easing concerns about the health of Deutsche Bank sparked a rally on Friday. The momentum carried over into Monday for some overseas markets and early in the morning, it seemed like U.S. stocks would get a further boost.

However, the upward drive lost steam as the open approached and stocks slipped at the outset of trading. The major averages quickly halted their decline but continue to hover below the unchanged mark.

The Dow Jones Industrial Average is down 77 points, or 0.4 percent, to dip just below 18,231. The S&P 500 is off 9 points, or 0.4 percent, to about 2,159. The Nasdaq is lower by about 21 points to 5,291.

The market is digesting some new economic news. The morning's data was a mixed bag, with a better-than-expected result from the ISM Manufacturing Index and a disappointing figure for construction spending. There was little market reaction to the news, as traders are likely to keep their powder dry until the jobs report, due out on Friday.