US stocks slip as traders digest data

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US stocks opened slightly lower at the start of New York trading with consumer staples leading the S&P 500 lower.

The benchmark S&P 500 fell 0.1 per cent, while the Nasdaq Composite lost 0.2 per cent. The Dow Jones Industrial Average, which notched an 11th day of record gains on Friday, was 0.1 per cent lower.

The price in US Treasuries was slightly lower, after yields, which move inversely to price, reached a two-week low on Friday. The yield on 10-year note was up 1.9 basis points at 2.33 per cent.

On the economic front, investors got a mixed report on the manufacturing sector. Orders for long-lasting US goods rose more than expected in January, but the closely-watched capital goods orders component unexpectedly fell.

The Dallas Federal Reserve on Monday will release its Texas manufacturing outlook survey at 10:30am New York time, following another data release on US pending home sales due at 10am.

On the corporate calendar, Priceline, Workday and Hertz Global will release its quarterly earnings.

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