Travelers, J&J tug the Dow lower in midday trade

AP News
Posted: Jan 21, 2014 11:50 AM

NEW YORK (AP) — Declines in several stocks in the Dow Jones industrial average are pulling the index lower in midday trading.

Broader market indicators were mixed. Dow Chemical and Alcoa led an advance in materials stocks Tuesday.

The Dow fell 117 points, or 0.7 percent, to 16,341 shortly before noon Eastern time.

The Standard & Poor's 500 index fell three points, just 0.2 percent, at 1,835. The Nasdaq composite index edged up three points, or 0.1 percent, to 4,200 points.

Three Dow stocks fell after releasing their quarterly results: Johnson & Johnson, Travelers and Verizon Communications. IBM, which reports after the close of trading, also fell.

Delta increased 3 percent after reporting a better-than-expected profit in the fourth quarter as fares and traffic rose. The airline's president said demand was strong.