Wednesday's early afternoon trade: Dow and S&P dip; Nasdaq up

The Dow and S&P slipped on Wednesday, pressured by the financial and energy sectors, although the Nasdaq rose on positive news on online retailers such as Amazon. Investors also weighed mixed news on the labour market. Stocks pared early gains on concerns that bank profits could be hurt by derivatives legislation under consideration.
"We're still seeing some relative softness in the financial sector. We have these lingering concerns with their assets," said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut. The Dow Jones industrial average fell 38.02 points, or 0.36 percent, to 10,433.56. The Standard & Poor's 500 Index slipped 2.78 points, or 0.25 percent, to 1,106.08. The Nasdaq Composite Index gained 4.25 points, or 0.20 percent, to 2,180.06.