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01.12.2015 06:30 Global Stocks: U.S. stock indices posted modest declines

U.S. stock indices declined slightly on Monday, but gained in November.

The Dow Jones Industrial Average declined 78.63 points, or 0.4%, to 17,719.86 ( 0.3% over the month). The S&P 500 declined 9.64 points, or 0.4%, to 2,080.47 (less than 0.1% over the month). The Nasdaq Composite lost 18.86 points, or 0.4% to 5,108.67 ( 1.1% over the month).

Investors are preparing for a week of strong data, including the key jobs report due on Friday. These data will hint investors to the outcome of the Federal Reserve's meeting later in December. The central bank of the U.S. is likely to raise its interest rates for the first time since June 2006, while the European Central Bank is expected to announce additional monetary policy easing on Thursday.

Meanwhile Chicago Purchasing Managers' Index worsened in November and fell below the 50 points threshold, which separates expansion from contraction. The index declined to 48.7 from 56.2 in October. Economists had expected a modest decline to 54.0.

This morning in Asia Hong Kong Hang Seng rose 2.06%, or 454.03, to 22,450.45. China Shanghai Composite Index edged up 0.05%, or 1.73, to 3.447.14. The Nikkei rose 0.95%, or 188.06, to 19,935.53.

Asian indices advanced. Chinese stocks posted minor gains amid mixed data. According to China Federation of Logistics and Purchasing the Manufacturing PMI fell to 49.6 in November from 49.8 reported previously. The latest reading was the lowest since August 2012. At the same time Markit Economics reported that the Manufacturing PMI climbed to 48.6 in November from 48.3 in October.

Investors are waiting for the ECB meeting on Thursday and the U.S. payrolls report on Friday.



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