US stocks have finished little changed following mixed economic data as markets paused after last week’s records.

The Dow Jones Industrial Average fell 24.28 points (0.14 per cent) on Monday to 17,366.24.

The broad-based S&P 500 dipped 0.24 (0.01 per cent) to 2,017.81, while the tech-rich Nasdaq Composite Index gained 8.17 (0.18 per cent) to 4,638.91.

The Institute for Supply Management’s purchasing managers index for October manufacturing rose to 59.0, with companies saying activity is picking up more than expected going into the year-end holiday shopping season.

But the Commerce Department reported that US construction spending fell a second straight month in September, for a 0.4 per cent annual decline, surprising analysts who expected a pick-up.

“It’s not surprising (investors) are digesting a little bit after the highs” last week, said Mace Blicksilver, director of Marblehead Asset Management.

Chinese online vending giant Alibaba, surged 3.25 per cent to a new high, one day ahead of its first earnings after IPO.

Social messaging service Twitter meanwhile sank 3.0 per cent, and Facebook lost 1.5 per cent.

Petroleum industry stocks suffered as US oil prices fell to their lowest level since June 2012.

Dow members ExxonMobil and Chevron lost 1.5 per cent and 2.6 per cent, respectively, while oil services companies Diamond Offshore and Baker Hughes fell 5.7 per cent and 2.0 per cent.

Covance shot up 25.9 per cent on news that it will be acquired by Laboratory Corp. of America for $US5.6 billion ($A6.06 billion) to create a giant in healthcare diagnostics. LabCorp fell 7.4 per cent.

Sapient soared 42.0 per cent on news it will be acquired by French public relations giant Publicis for $US3.7 billion.

Bond prices fell. The yield on the 10-year US Treasury rose to 2.35 per cent from 2.34 per cent on Friday, while the 30-year rose to 3.07 per cent from 3.06 per cent.

Bond prices and yields move inversely.