U.S. stocks fluctuated as declines in technology companies offset gains in consumer shares before Friday™s government report on hiring.
Qualcomm Inc. and Google Inc. fell more than 1.3 percent. CarMax Inc. rallied to an all-time high after a stronger-than-estimated fourth-quarter profit. Lorillard Inc. and Reynolds American Inc. climbed as antitrust officials weigh the cigarette companies™ merger.
The Standard & Poor™s 500 Index added 0.1 percent to 2,062.40 at 12:16 p.m. in New York, paring an earlier gain of as much as 0.6 percent. The Dow Jones Industrial Average climbed 9.51 points, or 0.1 percent, to 17,707.69, and the Nasdaq Composite Index was little changed.
The S&P 500 has fluctuated in the holiday-shortened week around a 15-point range framed by the index™s 50-day and 100-day moving averages. Data Thursday showed jobless claims fell more than forecast while factory output topped estimates, continuing a trend of mixed economic reports as the Federal Reserve considers raising interest rates.