Stocks shook off some early wobbles and squeezed out scant gains Friday, while volume ended mixed.
The Dow Jones industrial average and the Nasdaq each nosed up 0.1%, while the S&P 500 ceded small change.
Volume was mixed: slightly higher on the Nasdaq but lower on the NYSE, according to preliminary data.
China's inflation rose a year-over-year 2.5% in December, its highest in seven months and more than expected. A Bloomberg survey predicted a 2.3% gain. The report stoked fears that Beijing would pull back on easy-money policies and stimulus plans. The Shanghai composite, which had been improving, sank 1.8%.
Best Buy (BBY) soared 16% in heavy trade. The struggling electronics retailer's holiday-season sales came in flat but better than expected.
Cognizant Technology (CTSH) gapped up 5% in above-average volume. The move may have been a sympathy gain, after peer Infosys (INFY) surged 19% on its December-quarter results. Cognizant plans to report its fourth-quarter results Feb. 7. The stock cleared a cup-without-handle base with a 72.93 buy point in December. It is now 8% above that buy point.
SodaStream International (SODA) climbed 2% after Citigroup started coverage with a buy rating. The stock is bouncing back after reversing from a multiyear high in heavy trading Monday. The stock is still 12% past a 43.10 buy point from a cup-with-handle base.
Perrigo (PRGO) gapped down to a 6% loss in heavy trade. The drug maker, correcting since November, has been climbing the right side of a possible base. The stock dropped back below its 200-day moving average.
Watson Pharmaceuticals (WPI) gapped below its 50-day moving average and lost 5% in fast trade after being cut to neutral from buy at Goldman Sachs. Watson had just regained its 50-day line Thursday. The stock had been bouncing back after falling 7% below an 89.55 handle buy point Jan. 2.
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