US stocks slip after weak economic data; energy shares buck trend, move higher as oil rises

Markets Associated Press

U.S. stocks are drifting lower in midday trading following some weak reports on the U.S. economy.

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Oil prices continued to rise Wednesday, helping drillers and other energy companies move higher.

News Corp., which publishes The Wall Street Journal, fell 7 percent after its results missed analysts' forecasts. Noodles & Co. plunged 18 percent after also reporting disappointing results.

The Standard & Poor's 500 index fell four points, or 0.2 percent, to 2,085 as of 11:45 a.m. Eastern time.

The Dow Jones industrial average dropped 46 points, or 0.3 percent, to 17,881. The Nasdaq declined nine points, or 0.2 percent, to 4,929.

Oil rose 52 cents to $60.91 a barrel.

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Bond prices fell. The yield on the 10-year Treasury note rose to 2.22 percent, the highest in two months.