(Reuters) - U.S. stocks ended with modest gains on Monday, recovering part of last week's losses in a session marked by cautious trading as investors reacted to mixed economic data.
A report from ISM showed the pace of manufacturing growth rose in May. Other data showed construction spending surged in April but consumer spending was unexpectedly flat.Investors are weighing data to try to guess how soon the Federal Reserve might raise interest rates. Boston Fed President Eric Rosengren said with little evidence of a rebound, the Fed is in no position to start raising interest rates for the first time since 2006."The things that seem to be driving the market today are a bounce-back from the selling and some pretty good economic data. But as the day has progressed, some of the enthusiasm has worn off since the debate continues as to when the Fed is going to raise rates," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. "The risk is that the Fed raises interest rates into a slowing economy."Eight of the 10 major S&P indexes were higher, with health, industrials and technology among sectors with the most gains.Transportation stocks rebounded from recent losses. The Dow Jones transportation average <.djt>, which last week came within a hair of correction territory, was up 1.1 percent.The Dow Jones industrial average <.dji> rose 29.69 points, or 0.16 percent, to 18,040.37, the S&P 500 <.spx> gained 4.34 points, or 0.21 percent, to 2,111.73 and the Nasdaq Composite <.ixic> added 12.90 points, or 0.25 percent, to 5,082.93. Immunogen