The markets traded lower during the midday with the Dow losing 28 points to 20,043. Nasdaq slipped 10 points to 5,656.
The Securities and Exchange Commission issued a subpoena to Tyson Foods related to an investigation into the company. While the meat producer had limited information about the investigation, it does believe that the probe is about allegations that the company colluded with rivals to fix the price of chicken. Tyson is cooperating with the regulatory agency.
Uber moved one step closer to achieving its goal of producing flying cars by hiring NASA engineer Mark Moore as its director of engineering for aviation. Moore specialized in designing electric motors to lift vehicles into the air vertically. Both Uber and Moore acknowledge that vertical takeoff and landing vehicles are in its infancy and are working to create an ecosystem that supports innovation in airborne vehicles.
An amicus brief was filed by 97 technology companies on Sunday opposing President Donald Trump's executive order that temporarily banned refugees and immigrants from seven Muslim majority nations. The brief supported immigrants and noted many who brought new discoveries and innovation to the nation. The brief also highlighted the importance of increased background checks. Technology leaders such as Apple, Microsoft, Google and Facebook all signed the joint court brief.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 index lost 6 points to 2,290. Bitcoin rose $14 to $1,015.
