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Stocks slip on Wall Street; UPS sinks on forecast

July 12, 2013

Stocks are edging lower on Wall Street in midday trading a day after the market closed at a record high.

The Dow Jones industrial average slipped nine points, or 0.1 percent, to 15,451 as of noon Eastern Daylight Time Friday.

The broader Standard & Poor’s 500 index was down two points, or 0.1 percent, at 1,672.

The Dow and S&P closed at all-time highs the day before.

The Nasdaq composite was little changed at 3,578.

UPS sank 6 percent to $86.43 after the package delivery company cut its forecast for second-quarter earnings as its customers chose cheaper shipping options. UPS also said it’s seeing a slowdown in U.S. industry.

The yield on the 10-year Treasury note was flat at 2.57 percent.

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