Energy stocks take another blow as price of oil falls again, leading indexes mostly lower

Energy Associated Press

U.S. stocks are mostly lower in midday trading, led by declines in energy companies as the price of oil falls again.

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Chevron and Exxon Mobil were among the biggest decliners in the Dow Jones industrial average Wednesday.

The Dow was down 35 points, or 0.2 percent, to 17,832 as of 11:55 a.m. Eastern time.

The Standard & Poor's 500 index slipped a point, less than 0.1 percent, to 2,067. The Nasdaq composite rose 19 points, or 0.4 percent, to 4,807.

The price of oil fell 70 cents to $49.33 a barrel in New York. Oil has lost more than half its value since last June as supplies increase and demand decreases.

PepsiCo rose 2 percent after reporting earnings that were better than analysts were expecting.