Stocks slip as busy week for markets begins

7/29/2013
ASSOCIATED PRESS
Wall-Street-Pre-Market-2

Specialist Douglas Johnson is reflected in a screen at his post on the floor of the New York Stock Exchange Monday, July 22, 2013. U.S stock futures are declining Monday, July 29, 2013 ahead of a big week of economic indicators, including the latest statement from the Federal Reserve and the jobs report for July from the Labor Department. (AP Photo/Richard Drew)

ASSOCIATED PRESS

NEW YORK — Stocks are slipping in midday trading on Wall Street as a busy week for financial markets gets under way.

The Dow Jones industrial average was down 63 points, or 0.4 percent, to 15,495 shortly before noon today.

The Standard & Poor’s 500 index fell eight points, or 0.5 percent, to 1,683. The Nasdaq composite fell 16 points, or 0.5 percent, to 3,596.

Saks rose 3 percent to $15.86 after the luxury department store operator announced a deal to be acquired by the parent company of Lord & Taylor for $2.4 billion.

There’s lots of news for investors this week, including a Federal Reserve meeting that winds up Wednesday and the government’s monthly employment report on Friday. Merck, Exxon Mobil and Procter & Gamble also report earnings this week.