The markets traded mixed during the midday with the Dow rising 13 points to 18,141 while Nasdaq eased a point to 5,244.
Toyota recalled 340,000 2016 and 2017 model Prius sedans globally to fix a parking brake defect. Customers have reported that the parking brake fails. If the ignition is on and the transmission is in any gear other than Park, the car can roll away and cause crashes and injuries.
Black & Decker will pay approximately $1.95 billion in cash to acquire the tools business of Newell Brands. The deal is expected to yield annual savings of approximately $80 to $90 million for Black & Decker three years after the acquisition closes.
The standstill period that prohibits legal challenges to trade of soft lumber trade between Canada and the United States has expired but negotiations continue. U.S. lumber producers allege that Canada subsidizes its lumber. Trade negotiators will meet this week to reach a new trade agreement.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 added 2 points to 2,139. Bitcoin eased a fraction to $636.
