NEW YORK, N.Y. – Stocks are little changed in midday trading as investors wait for the pace of company earnings reports to pick up.
Energy stocks fell as the price of oil declined.
The Dow Jones industrial average edged down 20 points, or 0.1 per cent, to 16,416 points as of noon Monday.
The Standard & Poor’s 500 index was down a point, or 0.1 per cent, at 1,841. The Nasdaq composite was up two points, or 0.1 per cent, at 4,176.
Lululemon, the high-end yoga apparel maker, slumped 15 per cent after saying sales have dropped off in January and that its fourth-quarter results will be lower than analysts had expected.
Beam, the maker of Jim Beam and other liquors, jumped 24 per cent after agreeing to be acquired by Japan’s Suntory for about $14 billion.