A Mixed Bag For U.S. Economic Data

[Scubawarrior]

NEW YORK - In the headlines this afternoon, the manufacturing sector grew at a solid rate in March.

The Institute for Supply Management (ISM) said its manufacturing activity index came in at a better-than-expected 55.2 last month, slightly lower than February's 55.3 reading. Wall Street forecast a 54.9 reading.

In other economic news, consumer confidence sagged last month as Americans worried about weakness in the stock market and the economy. The University of Michigan said its final measure of consumer confidence fell to 92.6 in March from 94.1 in February.

U.S. stocks were lower at midday amid higher oil prices, a weaker-than-expected job creation report and the latest ISM data, which sparked inflation worries. U.S. Treasury bonds slipped, while the greenback fell against other major currencies.