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Stocks waver in midday trade; Teen retailers slide

By The Associated Press

Stocks are wavering in midday trading as investors evaluate a thin slate of corporate financial results and news that wholesale businesses increased their stockpiles in January.

The Standard & Poor's 500 index was down a point at 1,876 as of noon Eastern time Tuesday. The S&P 500 closed at record highs three times last week.

The Dow Jones industrial average fell 17 points, or 0.1 percent, to 16,402. The Nasdaq composite edged up four points, or 0.1 percent, to 4,338.

American Eagle Outfitters fell 6 percent after the company reported an 89 percent slide in its fourth-quarter net income as winter storms weighed on sales.

Urban Outfitters, another teen retailer, fell 5 percent after reporting its own results.

The yield on the 10-year Treasury note edged up to 2.79 percent.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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