Meanwhile in Asia, new data showed a slowdown in manufacturing activity in China where the official manufacturing purchasing managers' index (PMI), which tracks the health of large and state-owned enterprises, came in at 49.9 in July versus a Reuters poll that predicted a 50.0 reading. The 50-point mark separates expansion from contraction.
A private survey of small and medium-sized companies, released after the official PMI numbers, showed an expansion in activity, however. Nonetheless, Chinese mainland shares sold off following the data and the rest of Asia's markets traded mixed on Monday.
Construction spending declined 0.6 percent to its lowest level since June 2015 after an upwardly revised 0.1 percent dip in May, the Commerce Department said on Monday. Construction outlays were up 0.3 percent from a year ago.
The Institute for Supply Management says its manufacturing index last month read 52.6. That's down from 53.2 in June, but anything higher than 50 signals growth.
Production grew faster, the Associated Press reported. New orders grew at a slightly slower pace. Employment contracted in July after having risen modestly in June. It also fell in May and April.