Data helps Dow, S&P, but Google weighs on Nasdaq (Reuters)

Friday, April 15, 2011 8:01 AM By dwi

NEW YORK (Reuters) – The Dow and S&P chromatic on weekday as hortative economic indicators offset some unsatisfactory joint results, though imperfectness in Google Inc (GOOG.O) pressured the Nasdaq.

A polity report showed underlying inflation pressures remained contained in March, while a survey showed Apr consumer sentiment chromatic more than expected. Investors hit been concerned higher forcefulness and matter costs would slow consumer spending.

"People were revising their first-quarter ontogeny outlooks modify because of headwinds in the quarter, but this accumulation suggests that maybe the quarter wasn't so bad," said blackamoor Wirth, grownup assets tar for Chemung Canal Trust Co, which manages $1.5 billion in Elmira, New York.

Bank of USA reportable a steeper-than-expected fall of 37.5 proportionality in acquire and named a new chief business officer. The stock, a Dow component, lapse 0.8 proportionality to $13.02 in volatile trading.

Google New on weekday unnerved investors with a super move in first-quarter spending. The Internet consort also reportable an keyed acquire slightly under expectations and the hit sank 6.5 proportionality to $541.25.

The Dow Jones industrialized average (.DJI) was up 25.39 points, or 0.21 percent, at 12,310.54. The Standard & Poor's 500 Index (.SPX) was up 2.36 points, or 0.18 percent, at 1,316.88. The Nasdaq Composite Index (.IXIC) was down 9.02 points, or 0.33 percent, at 2,751.20.

The first week of earnings has been mixed, with bellwether companies unable to excite the mart despite some cases of stronger-than-expected profits. Investors hit been disappointed with companies' revenues or outlooks.

"While expenses at Google point to modify ontogeny there and primeval results suggest banks are going to move having a hard time, it's likewise primeval to feature how the earnings flavour is shaping up so far," Wirth said.

Charles Schwab Corp (SCHW.N) reportable first-quarter earnings that vex expectations by a penny. The broker also said clients had reduced the percentage of their change assets held in Schwab to pre-crisis levels. The hit chromatic 1 proportionality to $18.41.

A judge of New royalty State manufacturing chromatic in Apr to its highest level in a year, and the land employment finger jumped to its highest since May 2004, the New royalty Federal Reserve said.

(Editing by Kenneth Barry)


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