SAN FRANCISCO (MarketWatch) -- U.S. stocks trimmed losses Thursday after the Philadelphia Federal Reserve Bank said its manufacturing activity index jumped in February to its highest level since Jan. 2004. The reading of 35.9 topped expectations of 20.8. The Dow Jones Industrial Average was recently down 20 points at 12,265, led by a drop in American Express Co. shares. It had fallen as much as 35 points. The S&P 500 lost 3 points, or 0.2%, to 1,333, led by a decline in healthcare and financial stocks. The Nasdaq Composite was off 5 points, or 0.2%, to 2,820.
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