US technology stocks were lower at midday Wednesday after cautious comments from Cisco Systems Inc's chief executive about the outlook for technology spending overshadowed reports showing manufacturing and the services sector were stronger than expected.
The Dow erased most of its early morning losses and was trading near the unchanged mark after two government reports showed greater-than-expected strength in the services sector and in factory orders.
The technology-laced Nasdaq Composite Index dropped 29.55 points, or 1.43 percent, to 2,036.66. The Dow Jones industrial average rose 4.52 points at 10,509.26. The broader Standard & Poor's 500 Index slipped 3.66 points, or 0.32 percent, to 1,132.37.