Stocks flat in early trading
ASSOCIATED PRESS December 14, 2012 8:18AM
FILE- In this Thursday, Dec. 6, 2012, file photo, Trader Fred DeMarco, center works on the floor of the New York Stock Exchange. World stock markets swung higher Friday Dec. 14, 2012 after a survey showed an improvement in China's manufacturing, offsetting gloom from a sharp drop in Japanese business confidence. (AP Photo/Richard Drew, File)
Updated: December 14, 2012 1:50PM
NEW YORK — Stocks are opening mixed on Wall Street after a drop in U.S. consumer prices and a strong survey of Chinese manufacturing failed to excite investors.
The Dow Jones industrial average was up three points at 13,174 shortly after the opening bell Friday.
The Standard & Poor’s 500 index edged down two points to 1,417 and the Nasdaq composite lost 12 points to 2,979.
Adobe, which makes Photoshop photo-editing software, jumped 7 percent after the company reported earnings that beat Wall Street’s expectations. Analysts are optimistic about the potential of the company’s new subscription service to increase revenue.
Best Buy dropped 12 percent after the struggling electronics retailer and its former chairman agreed to give the executive more time to assemble investors to make a bid for the company.