Stocks edge lower in midday trading; Mattel sinks

The Associated PressJuly 17, 2014 

Wall Street

FILE - In this Aug. 16, 2007 file photo, the flags on the facade of the New York Stock Exchange are a backdrop for a Wall Street street sign. European stocks were lower after most Asian markets abandoned modest gains Thursday July 17, 2014 ahead of U.S. economic data and corporate earnings reports.

RICHARD DREW, FILE — AP Photo

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.

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