US stocks lower in midday trading

U.S. stocks were lower in midday trading Friday in New York. The Dow Jones Industrial Average was down 3.71 points, 0.03 percent to 13,165.22, in midmorning trading. The Standard and Poor's 500 index was down 2.54 points, 0.18 percent to 1,416.91. The tech-heavy Nasdaq composite index was down 10.21 points, or 0.34 percent, to 2,981.98. Concern about Apple's growth weighed on technology shares, analysts said. The U.S. Labor Department said the cost of living fell 0.3 percent in November, slightly higher than forecasts. The Federal Reserve said U.S. industrial production was up 1.1 percent last month, also higher than expected, factories resumed production following Hurricane Sandy. London's FTSE 100 was down 7.85 points, 0.13 percent, to 5,921.76. Japan's Nikkei average closed down 5.17 points, 0.05 percent, to 9,737.56. The benchmark 10-year U.S. Treasury note was up 9/32 to yield 1.703 percent. The yen was trading at 83.42, down from Thursday's 83.65. The euro rose to $1.3168 from Thursday's $1.3077.