NEW YORK (AP) ? Stocks are wobbling in midday trading after U.S. manufacturing expanded in August, but at a slower rate than the month before.
Retailers reported strong sales despite wild swings in the stock market and worries about the economy.
The Institute for Supply Management’s index indicated that manufacturing expanded for the 25th straight month. Analysts had expected a contraction.
Macy’s and Costco Wholesale edged up after their sales rose more than analysts had expected.
The Dow Jones industrial average is down 4 at 11,609 at midday. The Standard & Poor’s 500 index is down 1, or 0.1 percent, at 1,217. The Nasdaq composite index is down less than a point at 2,579.
Trading volume is far lighter than usual because many traders are on vacation.
