Dow up 22 points so far, at 10,594.
NEW YORK (AP) — Stocks wavered Friday after upbeat earnings news
from major technology companies was tempered by a discouraging
report on consumer sentiment.
The Dow Jones industrial average, which has been rallying
throughout the month, rose about 3 points in early afternoon
trading. It had been up as much as 55 points earlier.
Stocks started the day on an up note following strong earnings from
BlackBerry maker Research in Motion Ltd. and software company
Oracle Corp. Those gains mostly evaporated in late morning trading
after disappointing results came out from the University of
Michigan/Reuters poll of consumers.
The S&P 500 briefly traded at its highest level in four months
before slipping back into the same range it has been in since late
June. Traders are keeping a close eye on the 1,131 level in the
S&P, which was the highest point it reached in intraday trading
on June 21. It nearly crossed that barrier in early August before
going into a swoon that lasted most of last month.
