Market Commentary and Intraday News
Stocks slip in midday trading; Apple hits new high
243 days ago
By BERNARD CONDON
AP Business Writer
(AP:NEW YORK) U.S. stocks are slipping in midday trading, threatening a four-day rally that pushed indexes near pre-recession highs.
The Dow Jones industrial average fell 29 points at 13,564 shortly before noon Eastern Monday. The Standard & Poor's 500 fell two points to 1,463.The Nasdaq composite lost nearly nine to 3,175.
U.S. stocks are coming off a surge last week that sent the S&P 500 to its highest level in nearly five years after the Federal Reserve announced a new round of bond buying to get people to borrow and spend more.
Benchmark indexes fell nearly one percent in France and Italy.
Apple, the world's most valuable company, rose $7 to $698.35, a new high, after reporting advance sales of its iPhone 5 are double the advance sales for the previous version.
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