Stocks are little changed on Wall Street

Economic reports give investors a mixed picture on growth

1/10/2013

Trader Jonathan Corpina, right, works on the floor of the New York Stock Exchange Thursday, Jan. 10, 2013. Stocks opened higher on Wall Street Thursday, gaining for a second day, after the European Central Bank chief said the region was poised to start growing again, bolstering expectations that the worst of the region's crisis is behind it. (AP Photo/Richard Drew)

ASSOCIATED PRESS

 

NEW YORK — Stocks are slightly higher in midday trading, giving back most of an early gain, as economic reports gave investors a mixed picture on the outlook for growth.

The Dow Jones industrial average was up 18 points at 13,408 shortly before noon today. It has been up as much as 54 points in early trading.

The Standard & Poor's 500 added two points to 1,463, after rising as much as eight. The Nasdaq composite fell two points to 3,104.

The Labor Department said unemployment applications rose 4,000 to 371,000, the most in five weeks.

Supervalu jumped 11 percent after announcing that it had reached a $3.3 billion deal to sell its five of its biggest grocery chains to an investor group led by the private equity firm Cerberus Capital Management.