Investing.com - U.S. stocks finished Monday mixed as investors digested hit-or-miss data and weighed how long the Federal Reserve will keep interest rates at their current rock-bottom levels.
At the close of U.S. trading, the Dow 30 fell 0.15%, the S&P 500 index fell 0.04%, while the NASDAQ Composite index rose 0.23%.
The Volatility S&P 500 index, which measures the outlook for market volatility, was up 2.75% at 11.57.
Investors digested soft regional manufacturing data as well as upbeat housing numbers, buying and selling stocks while trying to figure out when the Federal Reserve will raise interest rates from their currently 0.00-0.25% rate.
The National Association of Realtors reported earlier that pending home sales jumped 6.1% in May from April, far surpassing market calls for a 1.5% reading.
Separately, industry data released earlier revealed that the Chicago purchasing managers’ index declined to 62.6 this month from 65.5 in May, missing expectations for a 63.0 reading.
Investors were turning their attention to the U.S. June nonfarm payrolls report, which will release a day early on Thursday due to the Independence Day holiday on Friday.
Markets were eager for the release of a key manufacturing gauge on Tuesday as well.
While markets expect the Federal Reserve to wrap up its bond-buying program this year, uncertainty surrounding how much time the Fed will take between closing its stimulus measures and hiking interest rates sent stocks on a mixed ride on Monday.
Shares of General Motors Company (NYSE:GM) were briefly halted after the automaker said it was recalling another 7.6 million cars.
Leading Dow Jones Industrial Average performers included Visa Inc (NYSE:V), up 0.68%, Cisco Systems Inc (NASDAQ:CSCO), up 0.63%, and Merck & Company Inc (NYSE:MRK), up 0.55%.
The Dow Jones Industrial Average's worst performers included Microsoft Corporation (NASDAQ:MSFT), down 1.27%, Boeing Company (NYSE:BA), down 1.17%, and United Technologies Corporation (NYSE:UTX), down 0.99%.
European indices, meanwhile, ended the day mixed.
After the close of European trade, the DJ Euro Stoxx 50 rose 0.24%, France's CAC 40 fell 0.32%, while Germany's DAX rose 0.18%. Meanwhile, in the U.K. the FTSE 100 fell 0.20%.
On Tuesday, stocks will track Institute of Supply Management's report on U.S. U.S. manufacturing activity.