US STOCKS-Wall St slips after disappointing manufacturing data

Mon Apr 1, 2013 10:17am EDT
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* Both S&P 500 and Dow coming off all-time closing highs

* S&P targeting record intraday high of 1,576.09

* Tesla Motors rallies after profit outlook

* With European markets closed, quiet day expected

* Indexes: Dow up 0.1, S&P down 0.2 and Nasdaq down 0.3

By Ryan Vlastelica

NEW YORK, April 1 (Reuters) - U.S. stocks fell modestly on Monday after weaker-than-expected U.S. manufacturing data and the Dow and S&P 500 slipped from record closing highs reached on Thursday.

The Institute for Supply Management's March reading on manufacturing came in at 51.3, down from analysts' average forecast of 54.2. A figure above 50 indicates expansion by the sector.

In a separate report construction spending rose more than expected in February, gaining 1.2 percent, compared with forecasts of a 1 percent rise.   Continued...