Stocks Slip on Falling Oil Furthering Week's Losses at Midday

Stocks slipped on falling oil prices in midday trading on Wednesday. The Dow Jones Industrial is down triple digits, furthering this week's losses. Energy is the weakest sector. Two different stories are unfolding for a couple of housing stocks. Toll Brothers (TOL) is dropping after reporting mixed quarterly results. But Hovnanian (HOV) is up after saying it generated growth in revenues and earnings. The home builder also posted a tax benefit for the quarter. Financials heavyweights are being pressured. Shares of JPMorgan (JPM) is losing after a top Fed official said it is the only big U.S. bank that falls short of a new proposed capital requirement. Under the rules, JPMorgan would need to raise $22 billion. Fellow blue chip, Goldman Sachs (GS) is also down in the session. Bulk retailer Costco (COST) is trading higher after topping earnings estimates. Same-store sales beat as well, rising 7% excluding fuel and foreign exchange.