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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 <.DJI> was down 20.89 points, or 0.17 percent, at 12,267.28. The Standard & Poor's 500 Index <.SPX> was down 3.04 points, or 0.23 percent, at 1,333.28. The Nasdaq Composite Index <.IXIC> was down 1.71 points, or 0.06 percent, at 2,823.85.

(Reporting by Angela Moon; editing by Jeffrey Benkoe)

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