Stocks Opened Flat ahead of Housing Data

U.S. stocks opened near unchanged Monday, ahead of data on pending home sales. The Dow Jones Industrial Average lately rose 2.98 points, or 0.02%, to 16,481.39. The S&P 500 was off 1.29 point, or 0.07%, to 1,840.11. The Nasdaq Composite slipped 13.32 points, or 0.32% to 4,143.24.

Manufacturers likely ended 2013 by posting a seventh month of growth, which probably will help fuel a pickup in the broad economy and hiring in the new year, economists say.

Blackstone Group LP is pumping $200 million into the footwear company in the form of a preferred stock investment, said Crocs Chief Financial Officer Jeff Lasher.

Wells Fargo & Co. on Monday reached a $591 million deal with Fannie Mae to settle claims that it sold defective mortgages to the government-controlled home-loan financier.