By CHRIS DIETERICH By ALEXANDRA SCAGGS NEW YORK—Weak economic data from the U.S. and Europe damped investor enthusiasm and jeopardized the Dow's three-session win streak. The Dow Jones Industrial Average dropped 16 points, or 0.1%, to 13059 in midday trading. On Friday, the Dow jumped over 13000 for the time since May 7, capping its biggest three-day point gain this year, on pledges from Europe's leaders to work to preserve the euro zone. J.P. Morgan Chase led blue-chip declines.The Standard & Poor's 500-stock index fell 3 points, or 0.2%, to 1383, and the Nasdaq Composite Index dropped 12 points, or 0.4%, to 2946. "We've seen Ferragamo handbags this pattern several times. The market is focusing primarily on expectations for stimulus," said Adrian Day, president of 170 million Adrian Day Asset Management. "The market gets excited, and then for some reason turns around and realizes that things aren't quite as positive as we thought." On the economic calendar, a reading of manufacturing activity in the Dallas region in July came in at negative 13.2, a steep drop from the previous month's measure of 5.8. European markets rose, however, with the Stoxx Europe 600 up 1.6%, as expectations of new stimulus measures there overshadowed the weak economic data. Jean-Claude Juncker, head of the Eurogroup of euro-zone finance ministers, said in an interview with French newspaper Le Figaro over the weekend that euro-zone governments, the European Central Bank and the European Financial Stability Facility will coordinate action to help ameliorate the region's debt crisis. Spain's IBEX-35 index climbed 2.8%. Treasury Secretary Timothy Geithner is set to meet with ECB President Mario Draghi and German Finance Minister Wolfgang Schäuble, as euro-zone policy makers seek to put together a package of initiatives that would reassure bond investors ahead of its Thursday meeting. But investors remained wary of whether progress would be made. "There is some hesitation ahead of the [ECB] meeting," said Randy Frederick, managing director of trading and derivatives with Charles Schwab. "Markets move on anticipation," but if the commitment pledged by Mr. Draghi last week "turns out to be less substantive, we could see the markets pull back a little bit." Business and consumer confidence in the euro zone fell in July from June, with a significant weakening evident in France and Germany, according to a survey from the European Commission. A reading jimmy choo handbags on Spain's second-quarter gross domestic product fell 0.4% from the first quarter, its third quarterly contraction in a row. In the U.K., mortgage lending fell in June to the lowest level since December 2010. Asian markets were mostly higher, with Japan's Nikkei Stock Average rising 0.8% and Australia's S&P/ASX 200 gaining 0.9%. But China's Shanghai Composite fell 0.9% to close at the lowest level seen since March 2009. Crude-oil futures eased 0.5% to 89.70 a barrel, while gold futures ticked up 0.1% to 1,618.90 a troy ounce. The U.S. dollar rose against the euro but fell against the yen. The yield on benchmark 10-year U.S. Treasury bonds fell to 1.507% as demand rose. In corporate news, shares of AT&T rose after the blue-chip telecom company said it increased its stock repurchase program by 300 million shares, which represents about 5% of the company's shares outstanding. Diebold sank after the producer of automatic-teller-machines lowered its full-year guidance after reporting that second-quarter earnings jumped 27%.In deal news, Shaw Group soared after the engineering and construction company agreed to be acquired by Chicago Bridge & Iron in a deal valued at 3 billion. Roper Industries was the biggest gainer on the S&P 500, Cartier Handbags after posting second-quarter profits that rose 8%, and agreeing to buy Sunquest Information Systems for about 1.4 billion. Progenics Pharmaceuticals tumbled after the company and Salix Pharmaceuticals said the Food and Drug Administration requested additional clinical data following a review of its constipation treatment. Exelixis rose after the company said the accepted the new drug application for its thyroid cancer treatment was granted priority review designation by the FDA. Write to Chris Dieterich at chris.dieterich@dowjones.com