Data Drags On Wall Street On First Trading Day Of 2015

(Reuters) - U.S. stocks retreated modestly on Friday, reversing an earlier advance, as investors found few reasons to buy in the new year following data that came in below forecasts. In a sign of tepid economic conditions, construction spending unexpectedly fell in November by 0.3 percent, while the pace of growth in the U.S. manufacturing sector slipped to a six-month low in December, according to the Institute for Supply Management.