Low energy prices, rate worries weigh on stocks

Staff Writer
Columbus CEO

NEW YORK (AP) — The stock market is moving lower at midday as shares of energy companies slip.

The Dow Jones industrial average fell 34 points, or 0.2 percent, to 17,033 as of noon Eastern time Thursday.

The Standard & Poor's 500 index fell two points, or 0.1 percent, to 1,992. The Nasdaq composite slipped 11 points, or 0.2 percent, to 4,575.

Energy stocks were among the worst performers as the price of oil touched its lowest level since January. Nabors Industries lost 2.1 percent.

Lululemon jumped 15 percent after the troubled yoga-gear retailer reported earnings that beat analysts' expectations.

Traders are looking ahead to a Federal Reserve meeting next week and wondering when interest rates will rise.

The yield on the 10-year Treasury note slipped to 2.53 percent from 2.54 late Wednesday.