US stocks dip; lower oil prices weigh on the energy sector

AP News
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Posted: May 22, 2015 11:57 AM
US stocks dip; lower oil prices weigh on the energy sector

NEW YORK (AP) — Stocks are mostly lower in midday trading as energy companies decline along with the price of oil.

The Dow Jones industrial average fell 59 points, or 0.3 percent, to 18,227 as of 11:45 a.m. Eastern time Friday.

The Standard & Poor's 500 index lost three points, or 0.2 percent, to 2,127. The Nasdaq composite gave up three points, or 0.1 percent, to 5,087.

Energy stocks fell. Hess lost 2 percent and Newfield Exploration declined 1.3 percent.

Oil fell 95 cents, or 1.6 percent, to $59.77 a barrel.

Campbell Soup rose 2 percent after its earnings came in ahead of what analysts were looking for.

Bond prices fell after the government reported an increase in consumer prices last month. The yield on the 10-year Treasury note rose to 2.21 percent.