The S&P materials index rose 0.6 percent as one of the best performing major S&P indexes, led by a 6.6 percent gain in Dow Chemical to USD 45.93. Activist investor and hedge fund manager Daniel Loeb has taken a stake in the company and wants it to spin off its petrochemical arm.
The Dow Jones industrial average was down 44.12 points, or 0.27 percent, at 16,414.44. The Standard & Poor’s 500 Index was up 5.10 points, or 0.28 percent, at 1,843.80. The Nasdaq Composite Index was up 28.18 points, or 0.67 percent, at 4,225.76.