New home construction and manufacturing came in softer than expected, while retail sales fell and underlying inflation took its first step down in six months.

The second-straight increase in core capital goods orders points to stabilization in equipment investment, which has been a drag on GDP in recent quarters.

The value of exports edged up 0.1%, but imports rose 1.1%, led by capital goods and motor vehicles.

For the first time in three months, output fell in January, driven in part by declines in output of automobiles, machinery, and metals.

Merchandise imports remain elevated, but U.S. exports of services climbed in November to a record $85.7 billion.

More than 500 companies and 140 industry groups signed a letter from an organization called Tariffs Hurt the Heartland.

In response to threatening tweets by President Trump over the weekend, China is reportedly considering canceling a planned trip to Washington by trade negotiators later this week.

Business groups line up behind proposed legislation that would limit Trump's tariff powers.