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U.S. equities opened mixed on Monday — the first trading day of the month and quarter — as investors braced for a week filled with key economic data.
The Dow Jones industrial average rose about 25 points, with UnitedHealth contributing the most gains. The S&P 500 held just above breakeven, with materials outperforming and utilities lagging. The Nasdaq composite rose 0.1 percent.
The ISM manufacturing index read for March is scheduled for release at 10 a.m. ET, along with February construction spending data. Monthly auto sales numbers will also be released throughout the day.
“A lot of focus will be towards some key economic numbers that can very much set the tone for the trading action of this week,” said Naeem Aslam, chief market strategist at Think Markets.
Other data set for release this week include minutes from the Federal Reserve’s previous meeting and March’s jobs report.
Wall Street also prepared itself for a meeting between President Donald Trump and Chinese President Xi Jinping on Thursday and Friday. The two leaders are expected to discuss trade and North Korea, among other subjects.”