(CNBC) U.S. stocks ended near unchanged on Friday, with the S&P 500 down for a third session, after economic reports showed manufacturing slowing but still in expansion mode at the end of 2014.
The Institute for Supply Management's manufacturing index came in at 55.5 in December, below expectations of a decline to 57.6 from 58.7 in November; separately, construction spending dropped 0.3 percent in November, versus a projected 0.3 percent gain.
"The U.S. economy is actually pretty well insulated, this is just investors' worrying more about what could be than what is likely to be. Investors are forgetting that while ISM was weaker than expected, it's still strong and expanding, and the number was pretty consistent with 3 percent economic growth," Kate Warne, investment strategist at Edward Jones, said of the market's turn lower after the data.
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