Friday's midday trade: stocks little changed

20 Aug, 2011

US stocks were little changed on Friday, but commodity-related shares rose on energy and gold prices, while Hewlett-Packard dragged on the Dow industrials. Hewlett-Packard's shares tumbled 20.1 percent to a six-year low, a day after the company said it may spin off its PC business, the biggest in the world, and lowered its outlook.
Major indices swung between positive and negative from the open, reflecting the volatility that has rocked markets in the past weeks. The S&P 500 bounced off a session low of 1,130, a key resistance level during last summer that is becoming strong support. Analysts see the next support at 1,100. The Dow Jones industrial average was down 8.47 points, or 0.08 percent, at 10,982.11. The Standard & Poor's 500 Index was up 1.86 points, or 0.16 percent, at 1,142.51. The Nasdaq Composite Index was up 12.13 points, or 0.51 percent, at 2,392.56.

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