US stock shake off early losses and edge higher at midday
NEW YORK (AP) — U.S. stocks are edging higher in midday trading, keeping indexes at record high levels.
Several stocks are moving on news of acquisitions Monday.
Ann, the parent company of Ann Taylor and Loft, jumped 19 percent after it agreed to be acquired by Ascena Retail Group.
Endo International fell 3 percent after it agreed to buy privately held Par Pharmaceutical for $8 billion.
The Dow Jones industrial average gained 15 points, or 0.1 percent, to 18,288 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 index rose four points, or 0.2 percent, to 2,127. The Nasdaq gained 19 points, or 0.4 percent, to 5,067.
The Dow and S&P 500 are at record highs.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.22 percent.
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