U.S. stocks open slightly higher after New York state factory gauge plummets

The U.S. stock market opened slightly higher Monday, as investors weighed a plunge in a gauge of manufacturing activity in the state of New York. The Dow Jones Industrial Average
DJIA,
-0.05%
was up 0.1% soon after the opening bell, while the S&P 500
SPX,
+0.07%
rose 0.1% and the technology-heavy Nasdaq Composite
COMP,
+0.40%
gained 0.1%, according to FactSet data, at last check. The Federal Reserve Bank of New York’s Empire State business conditions index, a measure of manufacturing activity in the state, plunged 42.6 points in May to a negative 31.8, according to a report Monday from the regional Fed bank.