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Stocks on track for first weekly loss since June

August 9, 2013

NEW YORK (AP) — Stocks are falling in midday trading on Wall Street, putting the market on track for its first weekly loss since June.

The Dow Jones industrial average was down 128 points, or 0.8 percent, to 15,367 shortly before noon Friday.

The Standard & Poor’s 500 index was down nine points, or 0.6 percent, at 1,688.

The Nasdaq composite was down 14, or 0.4 percent, at 3,654.

The S&P 500 is heading for its first weekly loss in seven weeks. It closed at a record high a week ago.

The market has been mostly slipping this week as companies report mixed earnings and disappointing revenue.

Gap fell 4 percent to $43.63 after reporting that its sales edged up just 1 percent last month, less than analysts were expecting.

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