Stock indexes recover from a morning slide

AP News
Posted: May 15, 2013 12:03 PM
Stock indexes recover from a morning slide

NEW YORK (AP) — Stock prices are shaking off a morning slump and turning higher in midday trading on Wall Street.

Macy's rose 2 percent, or 97 cents, to $48.36 after reporting a 20 percent profit increase, despite cool temperatures.

The market got off to a weak start after the Federal Reserve reported that manufacturing slowed last month.

The Dow Jones industrial average was up 45 points at 15,260 as of noon Eastern Daylight Time Wednesday, a gain of 0.3 percent. It was down 40 points in the morning.

The Standard & Poor's 500 index rose six points to 1,656, or 0.4 percent. Both the Dow and S&P closed at record highs the day before.

The Nasdaq composite rose seven points, or 0.2 percent, to 3,469.