US stocks edge lower in midday trading
NEW YORK (AP) — Stocks are edging lower in midday trading after indexes closed last week at record highs.
The Dow Jones industrial average slipped 40 points, or 0.2 percent, to 16,907 as of noon Eastern time Monday.
The Standard & Poor’s 500 index fell two points, or 0.1 percent, to 1,960. The Nasdaq composite lost five points, or 0.1 percent, to 4,362.
Micros Systems rose 3 percent after the business software maker Oracle said it was buying the company for $5.3 billion.
Wisconsin Energy fell 2 percent following news that the company would buy Integrys Energy. Integrys rose 13 percent.
The yield on the 10-year Treasury note was little changed at 2.60 percent.
The price of crude oil dropped 77 cents, or 0.8 percent, to $106.06 a barrel.