Itsuo Inouye, Associated Press
NEW YORK — Stocks are bouncing between small gains and losses as investors weigh the prospects of a global economic slowdown even as several U.S. companies report strong earnings. New home sales fell last month.
The Dow Jones industrial average rose 30 points to 13,075 at midday Friday. The Standard & Poor's 500 index rose three to 1,395 and the Nasdaq composite fell three points to 3,059.
The Commerce Department said new-home sales fell 1.6 percent last month. Sales have fallen nearly 7 percent since December. Stocks of homebuilders fell.
Nike, FedEx, Tiffany have all reported stellar earnings this week, but investors are worried that these companies rely on sales in Asia and Europe. Reports this week indicated a possible slowdown in those economies.
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