NEW YORK — Stocks are lower on Wall Street, continuing a weak start to the New Year.
The Dow Jones industrial average fell 40 points, or 0.3 percent, to 16,429 as of midday today.
The Standard & Poor’s 500 index was down five, or 0.3 percent, to 1,826. The Nasdaq composite fell 21 points, or 0.5 percent, to 4,111.
Wendy’s slumped 3 percent after the stock was downgraded by analysts at Janney Capital Markets, who said sales could be weak.
Jos. A. Bank Clothiers rose 4 percent after Men’s Wearhouse said it was making a hostile takeover bid for the company.
Sirius XM Holdings jumped 6 percent following news that Liberty Media wants to acquire full ownership of the satellite radio broadcaster.
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