An early gain on Wall Street fades by midday

Associated Press
FILE - In this Tuesday, Dec. 31, 2013 file photo, traders work on the floor at the New York Stock Exchange in New York. European stocks edged higher on Friday, Jan. 3, 2014, recovering from a bad first day of the year, but Asian markets closed lower following declines on Wall Street. (AP Photo/Seth Wenig, File)

NEW YORK (AP) — Stocks gave up an early gain on Wall Street and were mixed by midday.

The Dow Jones industrial average was up 13 points, or 0.1 percent, to 16,454 points as of noon Eastern time Friday.

The Standard & Poor's 500 was down a point at 1,831. The Nasdaq composite fell 15 points, or 0.4 percent, to 4,128.

General Motors fell 3 percent after the automaker said U.S. sales slumped 6 percent in December.

Delta jumped 4 percent after the airline said a measure of revenue rose 10 percent last month. Delta said it benefited from strong demand and a late Thanksgiving.

Trading was muted after a winter storm hit the Northeast. The governors of New York and New Jersey declared states of emergency and urged people to avoid travelling.