US stocks drift at midday; Krispy Kreme sinks

Staff Writer
Columbus CEO

NEW YORK (AP) — U.S. stocks are drifting between small gains in losses in midday trading.

Krispy Kreme Doughnuts sank 6 percent after reporting earnings that fell short of analysts' forecasts.

EBay fell for a second day as traders worry that a new mobile payment system from Apple will take business away from eBay's PayPal service. EBay sank 3 percent.

The Dow Jones industrial average edged up 10 points, or 0.1 percent, to 17,023 as of noon Eastern time Wednesday.

The Standard & Poor's 500 index rose a fraction to 1,989. The Nasdaq composite rose 10 points, or 0.2 percent, to 4,562.

European markets were mixed. France's CAC-40 was flat while Germany's DAX fell 0.1 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.53 percent.