US STOCKS-Dow, S&P end at records; Apple, Google drag on Nasdaq

Mon Jun 2, 2014 4:47pm EDT
 
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* Dow, S&P 500 close at record highs on light volume

* ISM corrects May factory data after hours of confusion

* Apple, Google shares weigh on Nasdaq

* Dow up 0.2 pct; S&P up 0.1 pct; Nasdaq off 0.1 pct (Updates to close)

By Angela Moon

NEW YORK, June 2 (Reuters) - The Dow and the S&P 500 finished at record highs again on Monday after a closely watched read on U.S. manufacturing was revised to show more strength than initially indicated.

Industrials and material stocks were among the day's biggest gainers, while the technology sector ended lower, weighed down by big names like Apple and Google.

After hours of confusion, the Institute for Supply Management officially corrected its earlier report to show that the pace of growth in the U.S. manufacturing sector accelerated in May. Wall Street fell initially after the first report, with all 10 S&P 500 sector indexes down for the day at one point.

"The market has lately been focused more on the weak economic news and the bond market, but we saw a reversal of that today with the revised (ISM) numbers. We got a better number and the bonds are selling off," said Rick Meckler, president of hedge fund LibertyView Capital Management in Jersey City, New Jersey.   Continued...