Stock Market Today: Energy Sector Drags on Stocks

The latest economic data showed slowdowns in both factory activity and construction spending.

blue stock market chart with bars
(Image credit: Getty Images)

Stocks started August on shaky footing, with markets struggling to find direction following their best month since 2020.

Much of last week's gains came on the heels of well-received tech earnings. And while the earnings calendar heats up later this week, the main focus on Monday was economic data. Namely, the Institute for Supply Management's purchasing managers' index (PMI) – a measure of factory activity in the U.S. – fell to 52.8 in July from 53.0 in June.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.