Market remains flat amid mixed data

The Dow Jones industrial average rose 17.15, or 0.2 per cent, to close on Friday at 9,171.61

Stocks ended little changed after a key barometer of consumer confidence and a handful of disappointing corporate profit reports reminded investors that a recovery in the US economy this year remains far from assured.

The Dow Jones industrial average fell 11.79, or 0.1%, to close on Tuesday at 9,096.72 after being down as much as 101 points during the day.

The broader Standard & Poor's 500 index fell 2.56, or 0.3%, to 979.62, while the Nasdaq composite index rose 7.62, or 0.4%, to 1,975.51 after several technology companies announced acquisitions.

Major indexes held to a tight range for the third straight day. Investors remain cautious but still aren't willing to give up on a rally that has propelled stocks up 11% in little more than two weeks.

Corporate earnings reports, which beat relatively meagre expectations earlier this month, disappointed today and brought reminders that many people remain unwilling or unable to spend.

Office Depot Inc and handbag maker Coach Inc had trouble drawing in customers during the second quarter.

The unease grew after the Conference Board's consumer confidence index fell more than expected, fanning worries that bleak expectations and a rising unemployment rate would hamper the economy's ability to rebound from the longest recession since the Second World War.

Even without the latest worries about consumers, analysts have been anticipating some pause in buying after this month's surge, which restarted a massive spring rally that began in March. That advance fizzled in mid-June on lacklustre economic reports.

John Merrill, chief investment officer of Tanglewood Wealth Management in Houston, said some institutional investors are being forced to pour money into stocks to try to keep pace with a rally of 44.8% in the S&P 500 index since March 9. Others who might already be invested don't want to miss out on other gains.

"That kind of gives a nice give and take with nobody motivated to strongly sell and nobody strong motivated to strongly buy," he said.