Stocks slip as US manufacturing growth slows down

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Associated Press

Posted on April 1, 2013 at 4:00 PM

Updated Monday, Apr 1 at 4:02 PM

NEW YORK (AP) — Stocks are opening April on a weak note, ending slightly lower after an industry group reported that U.S. manufacturing growth cooled in March.

The Dow Jones industrial average fell five points, or 0.04 percent, to close at 14,572 Monday.

The Standard & Poor's 500 gave up seven points, 0.5 percent, to 1,562. The S&P 500 closed at an all-time high last week, beating the record it set in October 2007.

The Nasdaq composite fell 28 points, or 0.9 percent, to 3,239.

The Institute for Supply Management said manufacturing grew for the fourth straight month in March, but at a slower rate. Industrial stocks fell the most in the S&P.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume was low at 2.7 billion shares.

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