Stocks edge lower in midday trading; Mattel sinks
Stocks are moving slightly lower at midday following mixed news about the economy and the latest batch of corporate earnings.
The Standard & Poor’s 500 index fell 10 points, or 0.5 percent, to 1,971 as of midday Thursday.
The Dow Jones industrial average fell 56 points, or 0.3 percent, to 17,081. The Nasdaq composite lost 29 points, or 0.7 percent, to 4,396.
Mattel fell 6 percent after the toy maker reported that its income plunged 61 percent in the second quarter.
AutoNation sank 8 percent after the nation’s largest auto dealership chain reported earnings that fell short of what investors were looking for.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.48 percent.