Stocks Fluctuated after Economic Data

U.S. stocks fluctuated in the early trading on Friday after consumer inflation data showed prices tumbled in December. The Dow Jones Industrial Average lately fell 19.07 points, or 0.11%, to 17,301.64. The S&P 500 was up 0.82 points, or 0.04%, to 1,993.49. The Nasdaq Composite added 3.62 points, or 0.08%, to 4,574.45.

Consumer inflation in December saw the biggest monthly drop in six years as gasoline prices tumbled, according to government data released Friday. U.S. consumer prices fell 0.4% in December, the largest drop since the end of 2008.

U.S. manufacturing output rose modestly in December, slowing from the torrid gains registered a month earlier but still signaling that American industry is weathering the impact of a strong dollar and weaker overseas markets. Factory output rose 0.3 percent last month, the Federal Reserve said on Friday.

Goldman Sachs Group Inc reported a 7 percent drop in fourth-quarter profit as an unexpected bout of market volatility in December hit its bond-trading business. Overall net income fell to $2.17 billion, or $4.38 per share, in the fourth quarter from $2.33 billion, or 4.60 per share, a year earlier.

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