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Stocks turn mixed as lift from tax cuts fades

NEW YORK CITY — Stocks are turning mixed after three straight weeks of gains as momentum fades about a freshly signed tax-cut package.

Major indexes are mostly lower in midday trading Monday, giving up earlier gains. They had edged higher last week as the tax deal moved its way through Congress. The package, which President Barack Obama signed into law on Friday, is expected to boost economic growth. Critics say it could also increase the size of the budget deficit and lead to higher inflation.

The Dow Jones industrial average is down 32, or 0.3 percent, to 11,460. The Standard & Poor’s 500 index is up less than a point, or 0.1 percent, to 1,245. The Nasdaq composite index is up 2, or 0.1 percent, to 2,645.

Bond prices are rising, sending yields lower.