U.S. stocks are rising modestly at midday as mixed corporate earnings and concerns about Europe stem a recent market rally.

Several big consumer goods companies said Wednesday that weak demand in Europe is cutting into their revenue. That followed worrisome reports from England, France and Germany about the pace of growth in those countries.

The Dow Jones industrial average rose 29 points to 13,198 as of 11:40 a.m. The Standard & Poor's 500 index rose two to 1,403. The Nasdaq composite index also rose two to 3,017.

The Dow had risen 290 points over the previous three trading days. Trading on Wednesday was more tentative as investors absorbed warnings about weakening demand from McDonald's, Priceline.com and Ralph Lauren.

Priceline tanked 16 percent after reducing its third-quarter income forecast.