US stocks started Monday on a positive note amid hopes for easing measures from the Fed and ECB. However, equities drifted lower after release of weak regional manufacturing report. S&P 500 dropped 0.5% to close at 1,385.30. Telecommunications sector was the top-performer, climbing 0.65%. Sprint Nextel advanced 4.64% while Frontier Communications Company remained unchanged. Utility firms also moved higher with Pacific Gas & Electric and Public Service Enterprise rising 0.85% and 0.74%. Meanwhile, Roper Industries gained 1.07% as the company plans to purchase Sunquest Information Systems for USD1.42 billion. Health care sector dragged the US stock index down. Tenet Health Care retreated after previous rally, dropping by 3.53%.