Stocks slip in midday trading on Wall Street as a busy week for markets begins; Saks rises

NEW YORK, N.Y. – Stocks are slipping in midday trading on Wall Street as a busy week for financial markets gets underway.

The Dow Jones industrial average was down 63 points, or 0.4 per cent, to 15,495 shortly before noon Eastern Daylight Time Monday.

The Standard & Poor’s 500 index fell eight points, or 0.5 per cent, to 1,683. The Nasdaq composite fell 16 points, or 0.5 per cent, to 3,596.

Saks rose 3 per cent to $15.86 after the luxury department store operator announced a deal to be acquired by the parent company of Lord & Taylor for $2.4 billion.

There’s lots of news for investors this week, including a Federal Reserve meeting that winds up Wednesday and the government’s monthly employment report on Friday. Merck, Exxon Mobil and Procter & Gamble also report earnings this week.

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