US STOCKS-Market pares gains on drop in Philly Fed

(Updates to show stocks reaction to Philly Fed)

NEW YORK, Feb 21 (Reuters) - U.S. stocks pared gains on Thursday after Philadelphia Federal Reserve Bank data showed a faster-than-expected contraction in mid-Atlantic factory production, underscoring recession worries.

The Dow Jones industrial average .DJI was up 6.19 points, or 0.05 percent, at 12,433.45. The Standard & Poor's 500 Index .SPX was down 0.06 point at 1,359.97. The Nasdaq Composite Index .IXIC was up 14.95 points, or 0.64 percent, at 2,342.05. (Reporting by Jennifer Coogan; Editing by Kenneth Barry)