NEW YORK (AP) — Stocks are turning lower in midday trading, threatening to break a seven-day winning streak for the Dow Jones industrial average.
Stronger earnings reports and economic data have helped push the Dow and S&P 500 index to levels last seen in June 2008. But stocks slipped on Wednesday, even after Dow member Coca-Cola Co. reported better results.
Ben Bernanke, the Federal Reserve chairman, told members of the House of Representatives that he expects unemployment to remain high for several years. Last week, the Labor Department said the unemployment rate dropped to 9 percent in January.
The Dow is down 20 points, or 0.2 percent, to 12,211. The S&P 500 index is down 6, or 0.5 percent, at 1,318. The Nasdaq composite is down 11, or 0.4 percent, at 2,785.
