The markets traded lower during the midday with the Dow falling 54 points to 18,484. Nasdaq lost 10 points to 5,265.
After abandoning its bid for Hershey last week, Oreo cookie maker Mondelez International announced plans to expand its business in the U.S. The world's second largest confectionary company will introduce Americans to its Milka Oreo chocolate bars. Mondelez will also develop more products for its Green & Blacks brand of premium products.
Internet radio service Pandora will offer a $5 per month option to entice users who listen for free to begin paying. Currently, approximately 76 million monthly users do not pay but do listen to ads. The new Pandora One $4.99 subscription has no ads and will allow users to skip songs and play music offline. Music streaming rivals Apple and Spotify charge $10 per month but offer more features.
Sony will introduce two new PlayStation 4 game consoles todau. Rumors have been circulating that there will be a slimmer version of the PS4 which will be sold at a lower price. Consumers are also eager to hear details about the PlayStation VR virtual reality system.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 lost 6 points to 2,180. Bitcoin added $3 to $611.
