US stock market drifts lower in afternoon trading

NEW YORK (AP) — U.S. stocks drifted lower this afternoon even as reports showed the economy gaining strength.

Crude oil prices sank, pulling Exxon Mobil, Chevron and other oil producers down.

Investors were also looking ahead to major events later this week. The European Central Bank has a meeting on Thursday, and a key U.S. jobs report comes out Friday.

The Dow Jones industrial average fell 42 points, or 0.1 percent, to 17,056 as of 3 p.m. Eastern time. The Standard & Poor's 500 index slipped three points, or 0.1 percent, to 2,000. The Nasdaq rose 10 points, or 0.2 percent, to 4,590.