Stocks Wavered In Early Trading

Stocks wavered in early trading on Monday in the wake of grim economic data across the globe last week. The Dow Jones Industrial Average lately was down 18.17 points, or 0.15%, at 12,100.40. The S&P 500 was off 1.64 points, or 0.13%, to 1,276.40. The Nasdaq Composite rose 2.17  points, or 0.08%, to 2,749.65.

A weekend report in Germany’s Der Spiegel magazine said Berlin is pressing Spain to accept bailout money from the European Financial Stability Facility that would be used to inject liquidity in the country’s banking sector. Spain has resisted the calls, the report said.  The Wall Street Journal reported that Germany has signaled it may be willing to embrace ideas it has so far opposed — such as common euro-zone bonds and mutual support for European banks, if other European nations in turn give up more sovereignty to European Union institutions.

China’s services sector expanded at its weakest pace in more than a year, according to an official survey released Sunday, dampening hopes it could take up some of the slack from slowing manufacturing industries. China’s services sector expanded at its weakest pace in more than a year, according to an official survey released Sunday, dampening hopes it could take up some of the slack from slowing manufacturing industries.

The price of oil plunged to eight-month lows below $82 a barrel on Monday as a weak U.S. jobs report sparked a global selloff in stocks and commodities. By early afternoon in Europe, benchmark oil for July delivery was down $1.08 to $82.15 per barrel in electronic trading on the New York Mercantile Exchange.

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