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Market pares losses after Philly Fed data



    NEW YORK (Reuters) - U.S. stocks slightly pared losses on Thursday after the Philly Fed index rose to the highest since January 2004 and well above consensus.

    The Dow Jones industrial average was down 20.89 points, or 0.17 percent, at 12,267.28. The Standard & Poor's 500 Index was down 3.04 points, or 0.23 percent, at 1,333.28. The Nasdaq Composite Index was down 1.71 points, or 0.06 percent, at 2,823.85.

    (Reporting by Angela Moon; editing by Jeffrey Benkoe)