Stocks slip in midday trading on Wall Street

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Associated Press

Posted on December 14, 2012 at 1:00 PM

Updated Friday, Dec 14 at 2:03 PM

Stocks are edging lower on Wall Street after a drop in U.S. consumer prices and a strong survey of Chinese manufacturing failed to excite investors.

The Dow Jones industrial average was off 23 points at 13,146 shortly before midday Friday.

The Standard & Poor's 500 index edged down 4 points to 1,416 while the Nasdaq composite dipped 15 points to 2,976.

Of the 10 industries in the S&P 500 index, technology and energy stocks are down the most.

Adobe jumped 7 percent after the maker of Photoshop editing software and other applications reported results that beat analysts' expectations.

Best Buy sank 15 percent after the struggling electronics retailer and one of its founders, Richard Schulze, agreed to give Schulze more time to assemble a bid for the company.

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