NEW YORK (MarketWatch) — U.S. stocks spent most of the Monday's session near the flatline, as investors weighed downbeat data from China and deteriorating situation in Ukraine with the better-than-expected report on the health of the services sector.
The S&P 500 (SPX) was flat at 1,880.80, with the financials sector leading the losses.
The Dow Jones Industrial Average (DJIA) slipped 9 points, or 0.1%, to 16,503.66, with half of its members trading in negative territory. J.P. Morgan Chase & Co lead the losses, after reporting a grim outlook for the second quarter.
/quotes/zigman/272085/delayed/quotes/nls/jpm JPM 54.07, -1.51, -2.72%
The Nasdaq Composite (COMP) was flat at 4,123.83.
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"The resilience of this market is amazing, investors don't seem to be scared of anything and every dip in the market is bought," says Channing Smith, managing director at Capital Advisors.
"Any bad news, especially geopolitical risks such as in Ukraine, have a shelf-life of a day," he added.
Growth picked up last month for the U.S. service sector and other non-manufacturing companies, according to data released Monday. The Institute for Supply Management said its non-manufacturing index rose to 55.2% in April -- the highest reading in six months -- from 53.1% in March.
The highlight of the week could be an appearance by Federal Reserve Chairwoman Janet Yellen before the Joint Economic Committee on Wednesday.
Investment banks fall, Pfizer results disappointJ.P. Morgan Chase & Co (JPM) shares dropped 2.7% after the bank said it expected revenue from fixed income and equities trading to fall 20% in the second quarter. The bank also reported it had incurred legal expenses of $347 million in the first quarter.
Shares of other investment banks were hit as well. Goldman Sachs Group, Inc. (GS) fell 1.8%, Morgan Stanley (MS) dropped 2.3%.
Bloomberg 
Enlarge Image Shares of Pfizer (PFE) fell 2.6% after first-quarter revenue fell short of expectations.
Shares of Target Inc. (TGT) fell 3.1% after announcing chief executive officer Gregg Steinhafel will resign immediately. Chief financial officer John Mulligan was named interim CEO.
Berkshire Hathaway (BRK.B) (BRK.A) , which late Friday reported lower first-quarter profits, fell 1.2%. Also read a recap of the Berkshire Hathaway shareholder meeting over the weekend.
Reuters Warren Buffett. In other markets, The Hong Kong Hang Seng Index (HK:HSI) slid 1.3% after HSBC's final version of China's April purchasing managers index came in at 48.1, below the initial reading of 48.3, adding to concerns about a slowdown in the world's second biggest economy. That news and increasing tensions out of Ukraine over the weekend weighed on Europe stocks (XX:SXXP) , with Germany's DAX 30 index (DX:DAX) among the hardest hit, seeing a 1.2% loss.
London markets are closed for a holiday. In Asia, markets in Japan and South Korea were closed for holidays.
In commodities markets, gold (GCM4) futures rose, while crude for June delivery (CLM4) gave up earlier gains and fell below the $100 a barrel level.
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