US Stocks Edge Lower in Midday Trade
NEW YORK (AP) -- Stock indexes are posting moderate declines in midday trading, though they remain close to record highs.
Energy stocks fell more than the rest of the market Friday as the price of crude oil moved lower.
Bank stocks also fell as bond yields eased. Lower yields mean lower rates on loans and smaller profits for banks. Regions Financial fell 1.7 percent.
Several companies were falling after posting weak results. Campbell Soup lost 5 percent and J.M. Smucker slid 4.3 percent.
The Standard & Poor's 500 index slipped 5 points, or 0.2 percent, to 2,342.
The Dow Jones industrial average dropped 60 points, or 0.3 percent, to 20,560. The Nasdaq composite was little changed at 5,815.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.42 percent.
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