RealTime IT News

Stocks Mixed on Mixed Data

Investors mulled conflicting signs about the health of the economy on Friday, and in the end, they did the only thing they could do: left stocks unchanged on the day.

The chip sector was a standout, however, gaining nearly 2% on a bullish outlook from National Semi , which saw its shares rise 4.5%.

But the rest of the market was flat after the government reported that the economy added 97,000 jobs in February, in line with estimates, but wage growth was higher than expected, raising inflation worries, and a much larger than expected jump in wholesale inventories suggested slackening demand.

An early rally on the jobs report faded when the inventories report hit the wires at 10 a.m. Eastern time.

Blue Coat was another earnings winner, surging 12% on its results and guidance. CDW climbed 3% on its monthly sales report, and CMGI rose 7% on a W.R. Hambrecht upgrade.

Yahoo fell 5% on reports that its arrangement with AT&T could be cut back.

Vonage shed 14% after losing a verdict to Verizon .

PeopleSupport , IDT , Novatel and Gmarket fell on their results.

Clearwire got hit with profit-taking a day after its IPO.

The Nasdaq was unchanged at 2387, the S&P 500 added 1 to 1403, and the Dow rose 15 to 12,276. Volume declined to 2.62 billion shares on the NYSE, and 1.96 billion on the Nasdaq. Advancing issues led by a 19-13 on the NYSE, and 16-13 on the Nasdaq. Upside volume was 54% on the NYSE, and 41% on the Nasdaq. New highs-new lows were 79-28 on the NYSE, and 75-75 on the Nasdaq.