The S&P 500 dipped 0.1% to 1,991.66 in midday trading.
The Dow Jones Industrial Average fell 0.2% to 17,137.43, and the Nasdaq was up 0.05% to 4,529.94.
The yield on a 10-year Treasury bond fell 0.66% to 2.55%
The price of gold was up 0.3% to $1,225.00.
Shares of Irvine-based Allergan Inc. were up 2.7% during midday trading to a market capitalization of about $50.7 billion. The drug maker continues to fight a hostile takeover bid by Valeant Pharmaceuticals International Inc. and activist Bill Ackman’s Pershing Square Capital Management. Various media reports have put Allergan near a deal to acquire Salix Pharmaceuticals Ltd., an acquisition that could thwart the hostile advances. Ackman on Tuesday said he would sue Allergan if it notches the deal with Salix without approval of Allergan shareholders.
Ingram Micro Inc. shares fell about 1.2%, continuing a slide from Monday, when it announced an agreement with SoftLayer Technologies Inc., part of IBM. Santa Ana-based Ingram Micro, which is the world’s biggest distributor of computer and other technology products, will offer SoftLayer’s cloud services to its partners in the U.S. under the agreement. Ingram Micro had a recent market capitalization of about $4.1 billion.
