National News

Jun 9, 2014 9:55 AM by Associated Press

US stocks drift sideways in early trading

NEW YORK (AP) - The U.S. stock market is little changed in early trading after major indexes ended last week at record highs.

The Dow Jones industrial average edged up six points, or 0.04 percent, to 16,930 shortly after the U.S. market opened Monday. The Standard & Poor's 500 index nudged up less than a point, or 0.05 percent, to 1,950. The Nasdaq composite rose four points, or 0.1 percent, to 4,325.

On Friday, the S&P 500 index notched another record high.

Tyson Foods slipped 56 cents, or 1.4 percent, to $39.56 after it emerged as the winner in a bidding war for Hillshire Brands. Hillshire jumped $2.77, or 5 percent, to $61.70.

Merck fell 50 cents, or 0.9 percent, to $57.35 after the drugmaker announced a deal to buy Idenix Pharmaceuticals.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)



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