Stocks lower as hopes for economic stimulus fade

Associated Press
FILE - In a March 21, 2012 file photo, Specialist Paul Cosentino, right, directs trading on the floor of the New York Stock Exchange. Stocks closed mostly lower Tuesday Aug. 14, 2012, after trading slightly higher for much of the day.    (AP Photo/Richard Drew,file)
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FILE - In a March 21, 2012 file photo, Specialist Paul Cosentino, right, directs trading on the floor of the New York Stock Exchange. Stocks closed mostly lower Tuesday Aug. 14, 2012, after trading slightly higher for much of the day. (AP Photo/Richard Drew,file)

NEW YORK (AP) — Stocks are opening mostly lower after more signs of economic growth in the U.S. reduce expectations that the central bank will step in to nudge along the recovery.

The Dow Jones industrial average slid 22 points to 13,148 shortly after the opening bell Wednesday. The broader S&P 500 index gave up over one point to 1,403, while Nasdaq rose three points to 3,020.

U.S. industrial production increased as factories made more cars, computers and airplanes last month, a hopeful sign that manufacturing is recovering after a weak spring, according to the Federal Reserve Wednesday.

It is the latest sign that the economy is trudging along, but isn't weak enough to create a sense of urgency among fiscal policy makers to act proactively.

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