Around the World's Markets: New York

WALL STREET slipped in late morning trading as dealers took profits after a strong rally, mindful of the trading week shortened by the Thanksgiving Day holiday. The Dow Jones was down 102 points, or 0.92 per cent, at 10,987 by midday.

"The market is just taking a breather ... Even bull markets have to take a time out," said one analyst. The US Commerce Department reported that durable goods orders for October fell 1.3 per cent. Economists had expected a rise of 0.4 per cent.