An early gain on Wall Street fades by midday

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Associated Press

Posted on January 3, 2014 at 12:02 PM

Updated Friday, Jan 3 at 12:03 PM

NEW YORK (AP) — Stocks gave up an early gain on Wall Street and were mixed by midday.

The Dow Jones industrial average was up 13 points, or 0.1 percent, to 16,454 points as of noon Eastern time Friday.

The Standard & Poor's 500 was down a point at 1,831. The Nasdaq composite fell 15 points, or 0.4 percent, to 4,128.

General Motors fell 3 percent after the automaker said U.S. sales slumped 6 percent in December.

Delta jumped 4 percent after the airline said a measure of revenue rose 10 percent last month. Delta said it benefited from strong demand and a late Thanksgiving.

Trading was muted after a winter storm hit the Northeast. The governors of New York and New Jersey declared states of emergency and urged people to avoid travelling.

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