Stocks edge lower in midday trading; Boeing drops

AP News
Posted: Jan 16, 2013 11:50 AM

NEW YORK (AP) — More problems for Boeing's 787 are sending the company's stock down sharply, leading the Dow Jones industrial average lower.

Japan's two biggest airlines grounded all their Boeing 787s for safety checks Wednesday after one was forced to make an emergency landing. The plane, known as the Dreamliner, has been plagued by a series of problems including a battery fire and fuel leaks this year.

The Dow fell 24 points to 13,510 shortly before midday.

The Standard & Poor's 500 index was flat at 1,472. The Nasdaq composite was up eight points at 3,118.

Goldman Sachs gained 2 percent after the investment bank reported that its profits nearly tripled in the fourth quarter of last year.

Other banks including Northern Trust and Bank of New York Mellon fell after reporting earnings.