The markets traded mixed during the midday with the Dow slipping 4 points to 18,396. Nasdaq gained 10 points to 5,223.
The Institute for Supply Management reported that manufacturing activity contracted in August for the first time in six months. The index of national factory activity dropped to 49.4. Demand for heavy machinery fell as oil drilling activity plunged.
WalMart will eliminate approximately 7,000 accounting and invoicing positions nationwide. The discount retailer has been working to improve staffing levels at its stores and provide better training for employees. WalMart is shifting headcount from back office positions to sales floor staff.
Dutch startup Beam Labs introduced its Beam smart projector at the IFA 2016 gadget show. Beam connects to iOS and Android devices and projects streaming videos onto any surface. There is a built-in speaker so that users can hear the programs that are being streamed. A portable stand is available to hold the Beam light bulb.
In the broad market, declining issues outpaced advancers 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 slipped 3 points to 2,167. Bitcoin lost $2 to $571.
