US waver between small gains and losses in midday trading; Broadcom soars

The Associated Press

Specialist Edward Zelles, foreground, works with traders at his post on the floor of the New York Stock Exchange Monday, June 2, 2014. Stocks were moving slightly lower in early trading Monday following the release of a closely watched report that showed an unexpected slowdown in U.S. manufacturing last month. The market is coming off record highs last week. (AP Photo/Richard Drew)

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NEW YORK (AP) — U.S. stock indexes are mixed in midday trading as the market comes off its latest record high last week.

The Dow Jones industrial average edged up 18 points, or 0.1 percent, to 16,740 as of noon Eastern time Monday.

The Standard & Poor's 500 index edged up less than a point to 1,924. The Nasdaq composite fell seven points, or 0.2 percent, to 4,235.

The Dow and S&P 500 both closed at record highs on Friday.

Broadcom jumped 10 percent after saying it would seek a buyer for its division that makes chips used in cellular devices.

European markets mostly rose.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.54 percent, up from 2.48 percent late Friday but still near its low for the year.

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