By Caroline Valetkevitch
NEW YORK (Reuters) - Stocks barely moved on Monday as the latest deal news offset losses following soft data on the housing market and services sector.
Dollar Tree Inc
In other deal news, Zillow Inc
While acquisition activity limited the market's decline, investors found few reasons to buy because of the data, which was among the latest to suggest that the economy's momentum was slowing.
An index of pending home sales unexpectedly fell 1.1 percent in June, the National Association of Realtors said. The report followed an 8.1 percent drop of new home sales in June, the biggest slump in almost a year. The PHLX housing sector index <.HGX> declined 1.6 percent. Shares of D.R. Horton Inc
Activity in the U.S. services sector stayed at its highest level in 4-1/2 years in July, though readings for new business and employment growth weakened, according to financial data firm Markit's preliminary data.
But the market may be hitting resistance as it hits key levels, with the Dow sitting just below 17,000 and the S&P 500 near 2,000.
"Technically, we are battling round numbers that I think give investors reason to pause," said Todd Salamone, senior vice president of Research, Schaeffer's Investment Research in Cincinnati.
The Dow Jones industrial average <.DJI> rose 19.69 points or 0.12 percent, to 16,980.26. The S&P 500 <.SPX> inched up just 0.92 of a point or 0.05 percent, to 1,979.26. The Nasdaq Composite <.IXIC>, though, dropped 1.70 points or 0.04 percent, to 4,447.86.
Family Dollar's stock jumped 24.5 percent to $75.49. It was the S&P 500's biggest percentage gainer. Dollar Tree gained 2.7 percent to $55.70.
Trulia's shares shot up 18 percent to $66.50. Zillow's stock rose 2.3 percent to $162.58.
El Pollo Loco Holdings Inc
(Editing by Jan Paschal)
