Stocks slip in midday trading on Wall Street

Stocks edge lower in midday trading; Dow could be headed for first three-day drop this year

Associated Press
Stock market has best day in nearly 3 weeks
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FILE - In this Friday, May 31, 2013 file photo, trader Richard Cohen, center, works on the floor of the New York Stock Exchange. Stock markets in Europe recovered their poise Thursday June 6, 2013 despite a big retreat earlier in Asia earlier and a glitch that temporarily affected several major exchanges. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- The stock market is edging lower in midday trading after a big drop the day before.

The Dow Jones industrial average was down 37 points at 14,923 at noon Eastern Daylight Time Thursday, a decrease of 0.3 percent.

The Dow dropped 217 points the day before. The index of 30 big-name stocks could be headed for its first three-day losing streak this year.

The Standard & Poor's 500 index was down a point at 1,607, a decrease of 0.1 percent.

The Nasdaq composite fell four points to 3,396 points, or 0.1 percent.

L Brands, owner of Victoria's Secret and Bath and Body Works, fell $1.16, or 2.2 percent, to $50.50 after reporting sales growth that was below the estimates of financial analysts.

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