U.S. stocks slip after Philly Fed; Cisco leads Dow
SAN FRANCISCO (MarketWatch) — U.S. stocks edged between small gains and losses Thursday, pressured by disappointing data on regional manufacturing, with the decline limited by a report from China signaling future stimulus and Cisco Systems Inc.’s strong earnings.
The Dow Jones Industrial Average (DJI JIA) started higher and was lately down 4 points at 13,160, retreating to session lows after the Philadelphia Federal Reserve said its manufacturing index was negative for the fourth straight month, with a reading that fell short of forecasts. Read more on Philly Fed.
The S&P 500 (SNC:SPX) turned lower, down 1 point, or 0.1%, to 1,405. The Nasdaq Composite (NASDAQ:COMP) was up 3 points, or 0.1%, to 3,034.
Reports released ahead of the bell showed, as they have in the past week, an uneven picture of U.S. economic strength. Building permits in July rose to their highest rate since August 2008. But housing starts for July fell and weekly jobless claims rose
http://www.marketwatch.com/story/us-stocks-sl...2012-08-16