Stocks down slightly in midday trading

The stock market rally that led to record highs this week stalled on Friday as investors wait to see where corporate profits are headed. Major U.S. indexes were down slightly at midday Friday, a day after the Dow Jones industrial average and the Standard & Poor’s 500 index set new all-time highs. Earnings news was mixed. Profits at big banks Wells Fargo and JP Morgan came in better than expected, and that helped bank stocks. But UPS cut its profit outlook and said it’s seeing a slowdown in U.S. ...

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