The Latest on developments in global financial markets (all times local):
Stocks indexes are wavering in early trading, while energy stocks fall along with the price of crude oil.
Exxon Mobil fell 1 percent in early trading Monday, one of the biggest declines in the Dow Jones industrial average.
The price of benchmark U.S. crude oil fell 2 percent to $47 a barrel in New York.
In deal news, Monsanto jumped 6 percent after the German drug and chemical maker Bayer offered to buy the company for $62 billion.
The Dow was up 10 points, or 0.1 percent, to 17,509. The Standard & Poor’s 500 index was up a fraction at 2,052. The Nasdaq composite climbed edged up 14 points, or 0.3 percent, to 4,787.
Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 1.84 percent.
European stock markets are largely trading in narrow ranges as further evidence emerged of an economic slowdown across the 19-country eurozone.
Financial information company Markit said Monday that its initial reading of the composite purchasing managers’ index — a broad gauge of business activity across the services and manufacturing sectors — fell to a 16-month low of 52.9 points in May from April’s 53.0. Anything above 50 indicates expansion.
Stephen Brown, European economist at Capital Economics, says the small monthly fall adds to the evidence that second-quarter growth is “unlikely to repeat” the first-quarter’s strong 0.5 percent gain.
That kept a lid on Europe’s main markets, with Germany’s DAX up 0.4 percent at 9,959 while France’s CAC-40 fell 0.1 percent to 4,350. Britain’s FTSE 100 index was flat at 6,156.