Stocks fall at midday after lackluster data

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Associated Press

Posted on June 12, 2014 at 12:00 PM

Updated Thursday, Jun 12 at 12:11 PM

U.S. stocks are falling at midday as lackluster news about the economy and declines in airline stocks weigh on the market.

The Dow Jones industrial average was down 62 points, or 0.4 percent, to 16,780 as of 12:07 p.m. Eastern time Thursday. The Standard & Poor's 500 was off seven points, or 0.4 percent, to 1,936. The Nasdaq slipped 12 points, or 0.3 percent, to 4,319.

Consumer spending rose 0.3 percent last month, the government said, just shy of the 0.4 percent increase that economists expected.

Energy stocks rose broadly on fears that insurgent victories in Iraq could disrupt global oil supplies.

Higher crude prices helped push down airline stocks. Delta Air Lines fell $2.05, or 5 percent, to $38.66. Southwest Airlines dropped $1.21, or 4.5 percent, to $25.73.

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