The Associated Press

NEW YORK (AP) — Stocks closed mostly lower as investors waited for the Federal Reserve’s two-day policy meeting that starts on Tuesday.

The news on the economy was mixed.

U.S. manufacturing output fell in August for the first time in seven months, reflecting a sharp fall in production at auto plants. A separate survey showed that manufacturing in New York state jumped.

On Monday:

The Dow Jones industrial average rose 43.63 points, or 0.2 percent, to 17,031.14.

The Standard & Poor’s 500 index fell 1.41 points, or 0.1 percent, to 1,984.13.

The Nasdaq composite declined 48.70 points, or 1.1 percent, to 4,518.90.

For the year:

The Dow is up 454.48 points, or 2.7 percent.

The S&P 500 index is up 135.77 points, or 7.4 percent.

The Nasdaq is up 342.31 points, or 8.2 percent.

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