Stocks turned mixed at midday

NEW YORK (AP) — Stocks are mixed at midday as traders hope for another blockbuster deal in the health care industry.

The Dow Jones industrial average rose 36 points, or 0.2 percent, to 16,400 at 12 p.m. Eastern time Monday. The Standard & Poor's 500 index edged down one point, or 0.2 percent, to 1,862. The Nasdaq composite dropped 26 points, or 0.7 percent, to 4,049.

Pfizer led other health care companies higher after it renewed its push to buy British rival AstraZeneca. Pfizer rose 3 percent. Bank of America slid 5 percent after the Federal Reserve forced the bank to suspend plans to increase its dividend and buy back more of its own stock.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.69 percent.

Related Headlines

  • Wingszi Chiang, Fred DeMarco

    Late push leaves US stock market mostly higher

    Stocks are ending a choppy day mostly higher as investors balanced enthusiasm over a possible merger in the health care industry with bad news from Bank of America. The Dow ... 

  • Sal Suarino

    Stocks edge higher as investors asses deal news

    Stocks are edging higher in midday trading as investors consider the latest news on corporate mergers. Abbott Laboratories rose 2 percent after financial analysts cheered the ... 

  • Vincent Surace

    US stocks drift on conflicting economic news

    Stocks are little changed in midday trading as investors sort through conflicting economic news from the U.S. and China. China's manufacturing contracted in April for the ... 

  • Michael Smyth

    Stocks higher on deal hopes; BofA sinks

    It was a choppy ride for the stock market on Monday that ended with major U.S. indexes closing mostly higher. Traders were pulled in multiple directions. Stocks opened higher, ... 

Find the best rates

Find your future job here