The stock market kicked off the week on a downbeat note. Market participants might be looking to take some money off the table after a big run in a short amount recently. The S&P 500 took out its 200-day moving average (4045) and continues to fall.
Selling is broad in nature. The S&P 500 and Vanguard Mega Cap Growth ETF (MGK) are down 1.2% and the Invesco S&P 500 is down 1.5%.
Declining issues lead advancing issues by a greater than 4-to-1 margin at the NYSE and a greater than 2-to-1 margin at the Nasdaq.
The final IHS Markit Services PMI reading for November came in at 46.2 after the last reading of 46.1.
Just in, the ISM Non-Manufacturing Index for November increased to 56.5% (Briefing.com consensus 53.5%) from 54.4% in October.
Factory orders for manufactured goods increased 1.0% on October (Briefing.com consensus 0.7%) following a 0.3% increase in September.
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