US stocks drift sideways in midday trading
- Associated Press
- June 9, 2014 - 11:00 AM
NEW YORK — The U.S. stock market crept higher in midday trading after companies announced a handful of deals. Major indexes appeared headed to new highs.
Shortly before noon on Monday, the Standard & Poor's 500 index was up six points, or 0.3 percent, to 1,955. The S&P ended last week at a record.
The Dow Jones industrial average was up 43 points, or 0.3 percent, to 16,967. The Nasdaq was up 23 points, or 0.5 percent, to 4,345.
Hillshire Brands jumped 5 percent after Tyson Foods raised its bid for the maker of Jimmy Dean sausages. Family Dollar's stock jumped 14 percent following news that investor Carl Icahn has taken a stake in the company.
The drug company Merck announced a deal to buy Idenix Pharmaceuticals, shooting Idenix's stock up 234 percent.
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