US stock market turns mixed at midday ahead of US, China data later this week

Markets Associated Press

Major stock indexes turned mixed in midday trading as investors waited for a series of key economic reports from the U.S. and China later in the week.

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The Dow Jones industrial average eased less than one point to 16,983 as of 12:12 p.m. Eastern time Tuesday. The Standard & Poor's 500 index slipped one point to 1,977. The Nasdaq, meanwhile, rose eight points to 4,453.

Telecom companies rose the most among the 10 industry groups in the S&P 500. Traders plowed into a range of telephone and cable stocks. The moves come after Windstream Holdings announced plans to move some of its network into a trust that won't pay income tax. Both Windstream and Frontier Communications jumped 12 percent to lead the S&P 500.