Stocks dip below record levels on Wall Street

AP News
Posted: May 09, 2013 11:56 AM
Stocks dip below record levels on Wall Street

NEW YORK (AP) — The stock market is pulling back after surging to record levels during the past week.

Even a decline in the number of Americans applying for unemployment benefits failed to boost stock prices in midday trading Thursday.

The Dow Jones industrial average fell five points, or 0.1 percent, to 15,099 as of noon Eastern Daylight Time.

The Standard & Poor's 500 index fell three points, or 0.2 percent, to 1,629.

The Nasdaq composite index, which his heavily weighted with technology stocks, edged up a point at 3,414.

Tesla Motors soared 19 percent after the electric car maker posted its first quarterly net profit since being founded a decade ago.

Green Mountain Coffee Roasters surged 25 percent after the company reported that its net income rose 42 percent.