Stock Market Today: Dow Slips on Dreary Economic Data

The S&P 500 and Nasdaq managed to close higher on the day.

closeup of computer monitor screen with stock charts
(Image credit: Getty Images)

Stocks opened higher Monday but it was a mixed finish as investors took in disappointing economic data. Still, there was plenty of upside to be found elsewhere, particularly in several meme stocks that surged on another cryptic Roaring Kitty post. 

Shortly after the open, the Institute for Supply Management said its Manufacturing Purchasing Managers Index (PMI) fell to a lower-than-expected 48.7 in May from April's 49.2. Readings below 50 indicate contraction. Moreover, the Prices Paid Index – a measure of inflation – eased to 57.0 from 60.9, but remained well in expansion territory. 

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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.