Stocks waver in afternoon trading; Monsanto struggles

NEW YORK (AP) — U.S. stocks are wavering between small gains and losses in afternoon trading today. Agribusiness giant Monsanto is leading a decline in materials stocks.

A day earlier, stocks made their biggest gains in more than a month. Energy companies are rising as investors gain confidence that oil prices won't get any worse.

The Dow Jones industrial average slipped 10 points, or 0.1 percent, to 16,854 as of 1:29 p.m. Eastern time. The Standard & Poor's 500 index gained 1 point to 1,979. The Nasdaq composite edged down 5 points, or 0.1 percent, to 4,684.

The Dow and S&P 500 both climbed more than 2 percent Tuesday, while the Nasdaq rose almost 3 percent, its biggest gain since August.

Agribusiness giant Monsanto fell after cutting its annual profit forecast because of the strong dollar, competition from lower-cost generic products and lower commodity prices. The stock tumbled $6.98, or 7.5 percent, to $85.51. It's on pace for its biggest loss in four years.