(CNBC) — U.S. stocks closed lower on Monday, the first day of trade for August, as investors weighed mostly lackluster economic data and a renewed decline in oil, amid overseas news.
"The growth picture right now is not all that encouraging," said John Caruso, senior market strategist at RJO Futures. "I think it's the data, that's the lion share of it."
"The ISM number this morning was rather alarming," he said. "That certainly raises some doubts that we are seeing expansions that economists are forecasting."
Advertisement - story continues below