US stocks edge higher on mixed data

New York - US stocks Monday opened slightly higher on mixed data from China and the eurozone as investors looked ahead to a busy week of economic reports and central bank news.

Five minutes into trade, the Dow Jones Industrial Average advanced 11.56 (0.07%) to 16 728.73, while the broad-based S&P 500 added 0.54 of a point (0.03%) at 1 924.11.

Both the Dow and S&P 500 closed at record highs on Friday

The tech-rich Nasdaq Composite Index rose 1.37 (0.03%) to 4 243.98.

Investors were cheered on strong data from China, the world's second-biggest economy. The Chinese government's official purchasing managers index (PMI) of manufacturing activity reached 50.8 in May, its highest level in five months.

But Markit Economics said its eurozone composite PMI for May fell to a six-month low of 52.2, from 53.4 in April.

The mediocre eurozone data increases the odds the European Central Bank will take additional stimulus measures Thursday, analysts said.

Meanwhile, a heavy week of US economic data culminates with Friday's monthly jobs report for May.