NEW YORK (Reuters) – U.S. stocks were little changed on Friday, with equities unchanged by the delayed market debut of Facebook .

Facebook rose 11 percent to $42 in early trading.

The Dow Jones industrial average <.dji> was down 7.34 points, or 0.06 percent, at 12,435.15. The Standard & Poor’s 500 Index <.spx> was up 0.64 points, or 0.05 percent, at 1,305.50. The Nasdaq Composite Index <.ixic> was down 5.14 points, or 0.18 percent, at 2,808.55.

(Reporting by Ryan Vlastelica; Editing by Dave Zimmerman)

NEW YORK (Reuters) – Stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country’s banks and another round of weak data undermined hopes for U.S. economic recovery.

Growing worries over developments in the euro zone and lackluster economic data pushed the S&P’s losing streak to five consecutive days. The index, which closed at a level not seen since mid-January, has now relinquished more than half of its gains from the first quarter.

“There is not a lot of interest in the equity market,” said Jason Weisberg, managing director at Seaport Securities Corp in New York. “The overhang with Europe is so heavy, people are tired of playing whack-a-mole, and their portfolios are the mole.”

The Dow Jones industrial average dropped 156.06 points, or 1.24 percent, to 12,442.49. The Standard & Poor’s 500 Index fell 19.94 points, or 1.51 percent, to 1,304.86. The Nasdaq Composite Index lost 60.35 points, or 2.10 percent, to 2,813.69.

Caterpillar Inc dropped 4.5 percent to $87.77 as the biggest drag on the Dow after the heavy equipment company’s dealers reported slowing sales for April. [ID:nL1E8GH5OK] The Dow declined for an eleventh session in the past 12.

A gauge of future U.S. economic activity fell in April for the first time in seven months, and the Philadelphia Federal Reserve’s index of business conditions hit its lowest since September.

In addition, the weekly claims for jobless benefits showed no improvement, a sign the pace of hiring remains lackluster.

Spain’s El Mundo newspaper reported that customers at troubled Spanish lender Bankia had withdrawn more than 1 billion euros over the past week, a report which the Spanish government denied.

Adding to concerns about the region, Spain’s borrowing costs shot up at a bond auction. Bankia shares fell 14 percent in European trading after sliding as much as 30 percent earlier.

News that some Greek banks face emergency funding needs hurt sentiment and caused a further decline in risk assets, which have dropped over recent weeks. The CBOE Volatility Index jumped 9.3 percent and hit its highest level since mid-December.

With a pattern of brief gains during recent trading sessions fizzling quickly, bulls saw little reason to fight the selling pressure.

“Everyone is inclined to sell into rallies rather than buy into dips, find any excuse to sell,” said Terry Morris, senior equity manager for National Penn Investors Trust Company in Reading, Pennsylvania.

After the closing bell, Gap Inc shares jumped 6 percent to $27.89 after the clothing retailer reported first-quarter earnings that topped Wall Street expectations and boosted its yearly profit forecast.

Facebook Inc priced its initial public offering at $38 per share, giving the world’s No. 1 online social network a $104 billion valuation in the third largest offering in U.S. history. The stock begins trading on Friday on the Nasdaq.

The Nasdaq fell on weakness in tech shares. Apple Inc lost 2.9 percent to $530.12 and Qualcomm Inc fell 3.3 percent to $57.16.

Dollar Tree fell 6.1 percent to $95.13 and was one of the biggest percentage decliners on the Nasdaq 100 after giving a second-quarter profit outlook that was below expectations.

The S&P has fallen 6.1 percent so far in May, and while volatility is expected to continue, the persistence of the losses have some analysts forecasting a near-term rebound.

Wal-Mart shares advanced 4.2 percent to $61.68 after the world’s largest retailer reported better-than-expected quarterly profit.

Sears Holdings Corp gained 3.1 percent to $52.42 after the company said it plans to spin off a large part of its stake in its Canada unit to better focus on its U.S. business.

GameStop Corp tumbled 11.1 percent to $18.52, the biggest percentage decliner on the S&P, after it forecast second-quarter earnings that were below expectations.

Volume was heavy with about 8.35 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, above the daily average of 6.81 billion.

Declining stocks outnumbered advancing ones on the NYSE by 2,652 to 412, while on the Nasdaq, decliners beat advancers 2,021 to 483.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

NEW YORK (Reuters) – Stocks fell on Thursday, with the S&P 500 poised for a fifth straight day of declines as already nervous investors were greeted by a round of weak domestic economic data while the euro zone remained turbulent.

Both the S&P and the Nasdaq fell as much as 1 percent, with the Nasdaq‘s losses wider as large-cap tech shares fell.

A gauge of future U.S. economic activity fell in April for the first time in seven months and the Philadelphia Fed business conditions index hit its lowest since September.

In addition, the weekly claims for jobless benefits remained at levels which indicated the pace of hiring remains lackluster, increasing worries about the health of the domestic recovery.

Spain’s El Mundo newspaper reported that customers at troubled Spanish lender Bankia had withdrawn more than 1 billion euros over the past week, though the Spanish government denied the report.

Adding to concerns about the regions financial stability, Spain’s borrowing costs shot up at a bond auction. Bankia shares fell 14 percent in European trading after sliding as much as 30 percent earlier.

News that some Greek banks face emergency funding needs hurt sentiment and caused a further decline in risk assets which have already dropped over the past weeks. The CBOE volatility index rose 3 percent and hit its highest level since early January.

“There is not a lot of interest in the equity market,” said Jason Weisberg, managing director at Seaport Securities Corp in New York. “The overhang with Europe is so heavy, people are tired of playing whack-a-mole, and their portfolios are the mole.”

The Dow Jones industrial average dropped 82.46 points, or 0.65 percent, to 12,516.09. The Standard & Poor’s 500 Index lost 10.78 points, or 0.81 percent, to 1,314.02. The Nasdaq Composite Index fell 36.42 points, or 1.27 percent, to 2,837.62.

Caterpillar Inc dropped 3.9 percent to $88.22 as the worst performer on the Dow after the company’s dealers showed a slowing growth in their heavy equipment sales for April. The Dow is on pace for its eleventh drop in the past twelve sessions.

The Nasdaq fell alongside weakness in tech shares. Apple Inc lost 2.1 percent to $534.90 and Qualcomm Inc fell 2.6 percent to $57.55.

Dollar Tree fell 4.9 percent to $96.38 and was one of the biggest percentage decliners on the Nasdaq 100 after giving a second-quarter profit outlook that was below expectations.

The S&P has fallen 6.1 percent so far in May, and while volatility is expected to continue, the persistence of the losses have some analysts forecasting a near-term rebound.

Wal-Mart shares jumped 5 percent to $62.17 after the world’s largest retailer reported better-than-expected quarterly profit.

Sears Holdings Corp climbed 4.8 percent to $53.31 after the company said it plans to spin off a large part of its stake in its Canada unit to better focus on its U.S. business.

GameStop Corp tumbled 10 percent to $18.75, the biggest decliner on the S&P, after it forecast second-quarter earnings that were below expectations.

(Reporting by Chuck Mikolajczak, editing by Dave Zimmerman)

By Herbert Lash

NEW YORK (Reuters) – The euro pared losses and bond prices slid on Wednesday after comments by German Chancellor Angela Merkel bolstered hopes that Greece would remain in the euro zone, while U.S. stocks rose on encouraging U.S. economic data.

U.S. industrial production posted its fastest growth in over a year in April and a rebound in groundbreaking for new U.S. homes last month suggested a recovery in U.S. housing was gaining some traction, bolstering U.S. investor sentiment that has been heavily hit by news about Greece.

Industrial output grew 1.1 percent, the most since December 2010 and nearly twice the pace expected by analysts polled by Reuters. Housing starts increased 2.6 percent to a seasonally adjusted annual rate of 717,000 units, while March’s starts were revised upward.

“Nice to see some turnaround. Ideally supply is getting more in line with demand, and low (interest) rates may be finally helping the turnaround,” David Carter, chief investment officer at Lenox Wealth Advisors in New York, said about housing.

“However, this housing story is much smaller than news out of Greece and might get easily forgotten,” Carter said.

Stocks on Wall Street opened higher, while equity markets in Europe pared much of an early sell-off.

The Dow Jones industrial average (DJI:^DJI – News) was up 38.52 points, or 0.30 percent, at 12,670.52. The Standard & Poor’s 500 Index (MXP:^GSPC – News) was up 6.00 points, or 0.45 percent, at 1,336.66. The Nasdaq Composite Index (NAS:^COMP) was up 10.66 points, or 0.37 percent, at 2,904.42.

The FTSEurofirst 300 index (.FTEU3) fell 0.2 percent to 997.22.

MSCI’s global equity index <.MIWD00000PUS> was down 0.4 percent to 306.53.

Prices on German government Bund bond futures fell to a session low, while Spanish and Italian bond yields eased, with traders citing comments from Merkel reiterating that Germany wanted Greece to stay in the euro zone.

Bund futures fell to 143.11, and the benchmark 10-year U.S. Treasury note was down 11/32 in price to yield 1.81 percent.

Both Bunds and U.S. Treasuries have safe-haven appeal and their prices rise when investors become jittery.

The euro climbed to a session high against the dollar expectations that Germany and France will act together to keep Greece in the euro zone after Merkel met French President Francois Hollande on Tuesday. .

The euro pared losses to trade near break-even at $1.2725. The dollar (.DXY) rose 0.2 percent to 81.359 , its highest in four months against a basket of currencies.

Oil prices slid, accentuated by a surprise build in U.S. crude inventories.

Brent crude was down 64 cents at $111.60 a barrel and U.S. oil was down $1.16 to $92.82 a barrel.

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Reuters Insider on markets: http://link.reuters.com/zud38s

Euro zone debt crisis: http://r.reuters.com/hyb65p

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(Additional reporting by Richard Hubbard; Reporting By Herbert Lash Editing by W Simon)

NEW YORK (Reuters) – Stocks traded flat on Tuesday, erasing strong gains in the premarket session after news Greece will hold new elections put the debt-stricken country’s bailout package and debt repayments further at risk.

The Dow Jones industrial average dropped 2.42 points, or 0.02 percent, to 12,692.93. The Standard & Poor’s 500 Index dropped 0.02 points, or 0.00 percent, to 1,338.33. The Nasdaq Composite Index gained 5.89 points, or 0.20 percent, to 2,908.47.

(Reporting By Edward Krudy, editing by Dave Zimmerman)

NEW YORK (Reuters) – Stocks fell on Monday, tracking global equity markets lower as a political impasse in Greece heightened concerns about Europe’s debt crisis and fears mounted about an economic slowdown in China.

The Dow Jones industrial average was down 96.64 points, or 0.75 percent, at 12,723.96. The Standard & Poor’s 500 Index was down 11.50 points, or 0.85 percent, at 1,341.89. The Nasdaq Composite Index was down 24.59 points, or 0.84 percent, at 2,909.23.

(Reporting by Ryan Vlastelica; Editing by Dave Zimmerman)

NEW YORK (Reuters) – Stocks edged up on Friday after a strong outlook from chipmaker Nvidia and surprisingly robust consumer confidence offset a slide in bank shares after disclosures of huge trading losses at JPMorgan Chase & Co.

JPMorgan said it lost at least $2 billion from a failed hedging strategy. The Dow component was down 7.3 percent at $37.76 and weighed on the entire sector.

Nvidia Corp rose 8.3 percent to $13.45 after reporting adjusted first-quarter earnings that beat expectations. The stock boosted the Nasdaq and was the S&P 500′s top percentage gainer.

U.S. consumer sentiment rose to its highest in more than four years in early May as Americans remained upbeat about the job market. The survey was a welcome sign amid worries that the economic recovery may be slowing down.

“It sort of runs against expectations,” said Sean Incremona, an economist at 4Cast in New York. “We were looking for a bit of a pullback here but consumers appear to be happy.”

Still, the S&P 500 was on track for its second weekly decline, although investors were encouraged after the index has rebounded from 2-month lows hit on Wednesday and looks set to close once again above April lows.

Marc Pado, a U.S. market strategist at DowBull.com in San Francisco, said traders had helped the market bounce by closing short positions – bets that stocks will fall – after gains at the start of May.

“The trader types see that we came down to that 1,340 area on the S&P 500, started to bounce, started to see some buying, some bottom fishing, then you got that consumer sentiment number and that was compelling enough,” he said,

The Dow Jones industrial average was up 5.41 points, or 0.04 percent, at 12,860.45. The Standard & Poor’s 500 Index was up 1.30 points, or 0.10 percent, at 1,359.29. The Nasdaq Composite Index was up 15.16 points, or 0.52 percent, at 2,948.80.

JPMorgan estimates the business unit involved in the trading loss will lose $800 million in the current quarter, excluding private equity results and litigation expenses. The bank had previously expected the unit to earn a profit of about $200 million.

Jamie Dimon, the chief executive of the biggest U.S. bank by assets, cautioned that losses could grow by another $1 billion, another hurdle for a sector already besieged by the sovereign debt crisis in Europe and fears of slowing growth globally.

JP Morgan‘s news weighed on bank shares as investors feared both a greater risk of more regulation and the potential for more such losses at other banks. However, the stocks were off their lows of the morning.

Citigroup Inc lost 3.2 percent to $29.67 and the Financial Select Sector SPDR was off 0.4 percent to $14.72. The S&P financial sector fell 0.5 percent, extending its month-to-date losses to 3.4 percent.

“There is no investment bank in the country that is more respected and viewed as more capable of dealing with risk management than JP Morgan,” said Jack De Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire.

“This makes it clear that derivatives are risky for anybody to run and we have to be more careful with exposing the system to the risk of derivatives,” he said.

Financial stocks have been among the most volatile in recent months as investors question what the growth outlook for the United States and the debt crisis of Europe will mean for the group’s profits. JPMorgan has fallen 12.2 percent this month.

The CBOE VIX Volatility Index is up 9 percent this month in a sign of growing caution, although it eased somewhat on Friday.

Thomson Reuters/University of Michigan’s preliminary consumer confidence index for May improved to 77.8 from 76.4 in April, topping forecasts of 76.2.

Of the 453 companies in the S&P 500 that have reported earnings to date for Q1 2012, 66.2 percent have reported earnings above analyst expectations, according to Thomson Reuters data.

That compares with more than 80 percent at the start of earnings season and is below the average for the past 4 quarters of 68 percent.

Shares of Arena Pharmaceuticals Inc rose 64.5 percent to $6.01 after a panel of experts recommended approval of the company’s obesity pill, a big step toward making it the first new diet drug on the U.S. market in more than a decade. The stock was the most actively traded on the Nasdaq composite.

(Editing by Dave Zimmerman)

NEW YORK (Reuters) – Stocks advanced modestly on Thursday as investors snapped up shares at beaten-down prices after a weak stretch, but tech bellwether Cisco Systems‘ disappointing outlook limited gains.

In a positive development, euro-zone officials said the bloc’s countries are prepared to keep financing Greece until the country forms a new government, either after Sunday’s election or if new elections are needed next month.

Cisco Systems Inc dropped 10.1 percent to $16.88, its biggest percentage drop since February 2011, making it the biggest drag on the market. The network equipment maker forecast profits below Wall Street’s estimates.

The Dow’s rise put the blue-chip average on pace for its first advance in seven sessions. The S&P looks set to close above lows in April after falling to a 2-month low near 1,340 on Wednesday.

“We are having a technical bounce,” said Peter Cardillo, chief market economist at Rockwell Global Capital. “Over the last two days we managed to flirt around support levels.”

“Greece is not likely to depart from the euro and they will eventually form a government that will heed the requests with some minor changes in terms of growth,” he said.

The Dow Jones industrial average rose 56.23 points, or 0.44 percent, at 12,891.29. The Standard & Poor’s 500 Index added 7.80 points, or 0.58 percent, at 1,362.38. The Nasdaq Composite Index gained 4.82 points, or 0.16 percent, at 2,939.53.

The latest uncertainty surrounding Greece and the euro zone’s sovereign debt crisis helped spark a drop in the S&P 500 in five of the past six sessions, sending the benchmark index down nearly 4 percent. While the region’s difficulties persisted with the political gridlock in Greece, investors used the market’s declines as a buying opportunity.

“You are seeing traders and investors come into some of these very oversold sectors and buying on the dips. Then suddenly, the people who are scared decide to start selling into it,” said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.

“That is what you are seeing today, you are seeing the see-saw between people who are coming in, and adding positions slowly and people who are saying, ‘the world is coming to an end, I want out.’”

The number of Americans applying for jobless benefits fell last week, but from an upwardly revised figure from the prior week. The report follows last month’s nonfarm payrolls report, which showed weak employment growth in April.

On the plus side, News Corp rose after its profit beat expectations late Wednesday and it announced a $5 billion stock buyback. Its stock climbed 6 percent to $20.55.

With 449 of the S&P 500 companies reporting results through Thursday morning, 66.4 percent exceeded estimates, according to Thomson Reuters data, compared with more than 80 percent at the start of earnings season.

(Reporting by Edward Krudy; Editing by Kenneth Barry)

NEW YORK (Reuters) – Stocks rose early Thursday as investors sought bargains after a string of losing sessions.

Concerns over Europe‘s sovereign debt crisis helped spark a drop in the S&P 500 in five of the past six sessions. While concerns over the region persisted, heightened by political gridlock in Greece, investors used the declines as a buying opportunity.

“We were oversold, but now there are some fair valuations in stocks, especially in ones that pay dividends or have recently increased them,” said Jerry Harris, president of asset management at Sterne Agee in Birmingham, Alabama.

“The issues with Europe aren’t going away, but they seem to come in waves and right now the latest wave is ebbing.”

The Dow Jones industrial average was up 73.11 points, or 0.57 percent, at 12,908.17. The Standard & Poor’s 500 Index was up 8.05 points, or 0.59 percent, at 1,362.63. The Nasdaq Composite Index was up 1.92 points, or 0.07 percent, at 2,936.63.

The Dow was on course to snap a six-day losing streak.

European shares rose 0.7 percent, bouncing off four-month lows.

The number of Americans applying for jobless benefits edged down last week, easing concerns the labor market was deteriorating after April’s weak employment growth. Stocks were little changed after the data.

Cisco Systems Inc dropped 8.6 percent to $17.17 and was one of the biggest percentage decliner on the S&P. The network equipment maker forecast profits below Wall Street estimates.

On the upside, News Corp was a top gainer on the S&P after its earnings beat expectations late Wednesday and it announced a $5 billion in stock buyback. Shares climbed 5.2 percent to $20.38.

With 441 of the S&P 500 companies reporting results through Wednesday morning, 66.7 percent exceeded estimates, according to Thomson Reuters data, versus more than 80 percent at the start of earnings season.

In another troubling sign from abroad, China’s imports grew just 0.3 percent in April, far below forecasts of an 11 percent increase. Exports grew 4.9 percent versus expectations of 8.5 percent, data showed.

(Editing by Jeffrey Benkoe)

NEW YORK (Reuters) – Stocks fell for the fifth day in six on Wednesday as investors kept their focus on the turmoil in Europe, but news that Greece will receive its latest debt bailout payment helped cut losses late in the session.

In the afternoon the Nasdaq briefly turned positive and the S&P rose to break-even after news that Greece will get 5.2 billion euros in emergency aid.

The turmoil in Europe has driven Wall Street’s slide and more investors were hedging against potential further losses. The Dow fell for a sixth straight day and the S&P touched a two-month low before cutting losses.

“It’s a very difficult market to trade in. I’m advising my clients to just hedge out all the way into July because we are going to see some heightened volatility like today for awhile,” said Randy Frederick, managing director of active trading and derivatives at Charles Schwab in Austin, Texas.

The CBOE Volatility index, Wall Street’s “fear gauge,” rose 5.8 percent to 20.15, the highest close in two months.

The yield on the 10-year Spanish bond climbed above 6 percent, seen as a troublesome level among investors, after Spain said it will demand banks set aside another 35 billion euros ($45 billion) against loans to the ailing building sector. Huge bank losses have raised fears that the country may need an international bailout.

Despite the late-day rebound, eight of 10 S&P sectors ended the day lower, and nearly two stocks fell for every one that rose on the New York Stock Exchange.

The Dow Jones industrial average finished down 97.03 points, or 0.75 percent, at 12,835.06. The Standard & Poor’s 500 Index was down 9.14 points, or 0.67 percent, at 1,354.58. The Nasdaq Composite Index fell 11.56 points, or 0.39 percent, at 2,934.71.

The S&P financial sector index was hurt by the news about Spanish banks, closing down 1.1 percent.

U.S.-listed shares of Banco Santander SA fell 6 percent at $6.01. The FTSEurofirst 300 index ended at its lowest level in four months.

Walt Disney Co reported quarterly earnings that beat expectations late on Tuesday on strong theme park attendance and cable advertising revenue. Shares of Disney, a Dow component, rose 1.6 percent to $45.02, after earlier hitting a lifetime high at $45.80. [ID:nL1E8G8DZY] The success of its superhero movie, “The Avengers,” also helped Disney’s stock. [ID:nL4E8G98NC]

Macy’s Inc earnings rose more than expected, but the stock fell 3.7 percent to $38.05 on disappointment that the department-store chain didn’t raise its outlook.

With 441 of the S&P 500 companies reporting results through Wednesday morning, 66.7 percent exceeded estimates, according to Thomson Reuters data. That was down from more than 80 percent at the start of earnings season.

Volume was 7.79 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE Amex, above the daily average of around 6.8 billion.

(Reporting by Angela Moon; Editing by Kenneth Barry)