U.S. stocks struggled and mostly failed to hold miniscule gains Friday ahead of U.S. wholesale data that should factor into final revisions for second-quarter economic growth. The Dow Jones Industrial Average fell 5 points to 10,409. The S&P 500 held a fractional gain to 1,104. The Nasdaq Composite declined nearly 2 points to 2,234. A few earnings and plenty of upgrades and downgrades, but the averages are going nowhere. On the earnings front, National Semi is down 6% even as they beat estimates. Cisco Systems, Corning, Intuit, and Research in Motion are lower on cautious analyst comments. Texas Instruments is modestly lower after narrowing their earnings guidance. Apple and Google are higher. Amazon and Computer Science are higher on upgrades. Nokia is jumping 2% after naming a new CEO. In the retail space, Lululemon is jumping 9% after beating estimates and raising guidance. Crocs reaffirmed guidance, but the stock is down 5%. Skechers was upgraded, but the stock is jumping 3%. The stock is down 45% from its' highs in June. The financials are modestly higher. Citigroup, Allstate, and Bank of America are all higher on upgrades. After the first hour the averages were modestly in the green. After the first hour the averages slowly improved. Philip Morris is jumping 1.6% to a new high after announcing a 10% boost to their dividend. In the afternoon the averages slowly improved. The financials are acting much better. The Dow Jones Industrial Average finished up 47 points at 10,462, with 22 of its 30 components rising, led by a 1.9% gain in shares of energy giant Chevron. The energy sector lifted the broad market, with crude oil gaining 3% in part due to raised forecasts for global demand. The S&P 500 index gained 5 points to 1,109. The Nasdaq Composite rose 6 points to 2,242. It was the second consecutive week of gains for the major average, with the Dow gaining 0.1%, the S&P adding 0.5%, and the Nasdaq rising 0.4%.
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