Midday Report: Navistar Jumps on Volkswagen Stake; U.S. Stocks Mixed

Stocks were mixed after a measure on U.S. services activity last month declined more than expected. The ISM Non-Manufacturing Index showed services activity fall to its slowest growth since 2010. Analysts said it was too soon to determine whether August was a blip or part of a slowing trend. The weak reading reduced the chances of a September rate hike to 18 percent from just over 20 percent last week. Spectra Energy (SE) - Get Report climbed after agreeing to merge with Enbridge (ENB) - Get Report . The deal would form an organization with total value of nearly $130 billion, making it the largest energy infrastructure company in North America. Navistar (NAV) - Get Report rocketed higher after forming a strategic alliance with Volkswagen (VLKAY) . The automaker will purchase newly-issued shares to accumulate a nearly 20 percent position. TheStreet's Keris Lahiff reports from Wall Street.