ALGIERS (Reuters) - Algeria's state news agency APS said on Thursday that the military operation to free hostages at a remote desert gas facility had ended, quoting an unnamed official source who gave no further details.
(Reporting by Lamine Chikhi; Editing by Alastair Macdonald)
SAN FRANCISCO (Reuters) – Acting as a tax collector may have hurt Amazon.com, Inc’s holiday sales analysts and industry executives said, but they expect to know more when the internet retailer reports its fourth-quarter results on January 29.
Best Buy Co., an archrival of Amazon in consumer electronics, saw holiday online sales increase in three states where Amazon started collecting sales tax ahead of the period.
“There was a little softness in states where Amazon is now collecting sales tax,” said R.J. Hottovy, an equity analyst at Morningstar. “That isn’t surprising to me. It levels the playing field for brick-and-mortar retailers.”
Critics of Amazon argued it had an unfair advantage because most retailers have had to collect state sales tax on online sales for years because they have stores and other physical operations in these locations.
But many states, hungry for extra tax revenue in the wake of the 2008 financial crisis, introduced new laws requiring that Internet-only retailers also collect sales tax. Brick-and-mortar retailers hope the requirement will reduce Amazon’s price advantage and help them recoup lost sales.
CHANNELADVISOR DATA
Amazon, the world’s biggest Internet retailer, began collecting sales tax of 7.25 percent to 9.75 percent in California on Sept 15, about two weeks before the start of the fourth-quarter. Third-party sellers on Amazon.com saw a drop in sales during the quarter, compared to other states, according to an analysis by e-commerce firm ChannelAdvisor.
It also started collecting sales tax in Pennsylvania in September and in Texas in July.
Amazon’s fourth-quarter results should provide clues on whether consumers changed their shopping habits when faced with higher taxes on their purchases from the company’s website.
ChannelAdvisor, which helps merchants sell more online, analyzed its clients’ sales on Amazon.com in California, and compared them to other states before and after the sales tax kicked in.
Before Amazon began collecting the tax in California, ChannelAdvisor client sales were 5 percent to 10 percent above other states. The week before the September 15 start of the tax, sales spiked as high as 70 percent compared to other states.
“The surge before the tax went into effect was much larger than I thought it would be,” said Scot Wingo, chief executive of ChannelAdvisor. “Californians definitely bought a lot in the three or four days before the tax went into effect.”
After Amazon began collecting tax, its California sales leveled with other states. Then, in early November, they slipped as much as 10 percent below other states, ChannelAdvisor data showed.
During one of the busiest holiday periods, in late November and early December, sales dipped further in California vs other states. Toward the end of the holiday period, client sales in California recovered, the data showed.
“There was a sales impact of about 10 percent at the worst point of the dip,” Wingo said. EBay, another Amazon rival, is an investor in ChannelAdvisor. Wingo also owned Amazon shares, but sold them in the fourth quarter for personal tax-related reasons.
Amazon’s tax collection in California had the most impact on fourth-quarter sales of more expensive items priced at $ 200 to $ 250, Wingo said.
PRICES, PROFIT
Amazon probably lowered prices by 8 percent to 9 percent on items most affected by this, although it is tricky to separate such reductions from the usual holiday season promotions that were also happening, Wingo said.
The extra price competition may dent Amazon’s profitability in the fourth quarter, Morningstar’s Hottovy said.
Amazon is expected to make 52 cents a share in the fourth quarter, on revenue of $ 22.3 billion, according to Thomson Reuters I/B/E/S. In late October, the company forecast operating results ranging from a profit of $ 310 million to a loss of $ 490 million.
Hottovy expects $ 22.4 billion in revenue and an operating loss of $ 210 million, or a $ 135 million loss after excluding stock-based compensation and other operating expenses.
BEST BUY
In California, Texas and Pennsylvania, Best Buy said it saw a 4 percent to 6 percent increase in online sales during the holiday versus the rest of its chain.
The retailer also saw an increase of 6 percent to 9 percent in online orders that are picked up in its stores in those three states compared with the rest of its chain.
Overall, Best Buy reported better-than-expected holiday sales last week, sending its shares up more than 10 percent.
“This makes Amazon equal to everyone else. They no longer have that sales tax advantage,” said Anne Zybowski, vice president of retail insights at Kantar Retail. “If this had happened to Amazon when they were just a bookseller years ago, they may not be as big as they are now.
Despite the tax changes, Amazon’s consumer electronics prices were still at least 5 percent below Best Buy’s during the holiday season, Zybowski said. But Best Buy may have benefited from even a small change in this area.
“Particularly in consumer electronics, any narrowing of Amazon’s price advantage at the margin is important because Best Buy brings service and other shopper benefits to the category,” she said.
Best Buy will take away people’s old TVs when they buy a new one and the company’s Geek Squad service will install devices in shoppers’ homes, services Amazon does not provide, she noted.
An Amazon spokesman declined to comment when asked if the company saw an impact on fourth-quarter sales from the collection of sales taxes in the three states.
In the past, Amazon executives have said there was little or no impact from such changes in other regions.
Several analysts have argued that shoppers use Amazon for its vast product selection and convenient, fast shipping and returns, and not just its low prices.
“While not great for Amazon, it’s just one of many consumer benefits its service offers,” said Ken Sena, an analyst at Evercore Partners. “And while there may be early effects from this change, I still see usage trends remaining in Amazon’s favor.”
(Editing by Leslie Gevirtz)
Tech News Headlines – Yahoo! News
01/17/2013 at 01:00 PM ET
AKM-GSI
As usual, Holly Madison was all smiles on Wednesday. But don’t let her look deceive you — due in seven weeks, the former E! star is feeling a bit petulant.
Though she’s been preparing for the arrival of her daughter, Madison tells PEOPLE at the grand opening of Andrea’s at the Wynn in Las Vegas that she’s “stressing out because I’m supposed to be moving.”
“I need to get the nursery together, so I’m getting really impatient,” she explains.
“It’s going to be Alice In Wonderland-themed and I’m painting all these big murals so you feel like Alice when you walk in — all the tall flowers and all the caterpillar leaves. It’s going to take days to do it.”
Following a dispute about her doghouse with her current homeowners association, Madison, 33, is hoping to be settled in her new home sooner rather than later.
“I’m so antsy to get it done because I feel like the baby is going to come before I get a chance to get in there,” she says. “I’m supposed to be due the first week of March but she’s just going to come whenever she wants to come, so I don’t pay attention to that. I’m ready anytime.”
Luckily, the pregnancy has been smooth sailing overall, and Madison only craves fruit juices.
“I’m eating healthier than I normally would,” she notes. “I’ve been really lucky and feeling good. No problems.”
– Mark Gray
NEW YORK (AP) — A new study shows New York City is doing better than Los Angeles in the battle against childhood obesity, at least for low-income children.
From 2003 to 2011, obesity rates for poor children dropped in New York to around 16 percent. But they rose in Los Angeles and ended at about 20 percent.
The researchers focused on children ages 3 and 4 enrolled in a government program that provides food and other services to women and their young children.
The Centers for Disease Control and Prevention released the study Thursday.
The authors noted that the Los Angeles program has many more Mexican-American kids. Obesity is more common in Mexican-American boys than in white or black kids.
NEW YORK (Reuters) - Wall Street rose on Thursday, with the S&P 500 climbing to a five-year intraday high, on improved housing and jobs data along with better-than-expected results from online marketplace eBay
The data showed the number of Americans filing new claims for unemployment benefits fell to a five-year low last week, while groundbreaking for homes rose to the fastest pace in four years last month.
Strength in the housing and labor markets is key to sustained growth and higher corporate profits. Job market improvement helps stimulate consumer spending while a recovery in housing means more purchases of appliances, furniture and other household goods as well as a source of employment.
"The real estate numbers all look good, sales looked good, prices looked good, housing starts looked good," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.
"The only thing that still doesn't look really good in my mind are the employment numbers but even the claims were pretty good and inflation seems to be nonexistent so what's to stop the party from going?"
The Dow Jones industrial average <.dji> gained 82.97 points, or 0.61 percent, to 13,594.20. The Standard & Poor's 500 Index <.spx> advanced 8.31 points, or 0.56 percent, to 1,480.94. The Nasdaq Composite Index <.ixic> rose 17.12 points, or 0.55 percent, to 3,134.66.
PulteGroup Inc
EBay's shares rose 3 percent to $54.47 a day after it reported holiday quarter results that just beat Wall Street expectations. It gave a 2013 forecast that was within analysts' estimates.
The S&P is on track for its third consecutive advance, which pushed the index above an intraday peak set in September to its highest since December 2007.
But gains were tempered by weakness in the financial sector, with Bank of America
Bank of America's fourth-quarter profit fell as it took more charges to clean up mortgage-related problems. Citigroup posted $2.32 billion of charges for layoffs and lawsuits, while its new chief executive cautioned the bank needed more time to deal with its problems.
The S&P financial sector index <.spsy> slipped 0.14 percent as the only one of the 10 major S&P sectors to decline.
S&P 500 corporate earnings for the fourth quarter are expected to rise 2.3 percent, Thomson Reuters data showed. Expectations for the quarter have fallen considerably since October when a 9.9 percent gain was estimated.
With investors anticipating the current earnings season to be lackluster, their focus will be on the corporate earnings outlook for the months ahead, analysts said.
Shares of Boeing
Market breadth was solid, with advancers outpacing decliners on the New York Stock Exchange 2,234 to 650, while on the Nasdaq the ratio was 1,602 to 762 in favor of advancing stocks.
(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)
ALGIERS (Reuters) - Islamist militants attacked a gas field in Algeria on Wednesday, claiming to have kidnapped up to 41 foreigners including seven Americans in a dawn raid in retaliation for France's intervention in Mali, according to regional media reports.
The raiders were also reported to have killed three people, including a Briton and a French national.
An al Qaeda affiliated group said the raid had been carried out because of Algeria's decision to allow France to use its air space for attacks against Islamists in Mali, where French forces have been in action against al Qaeda-linked militants since last week.
The attack in southern Algeria also raised fears that the French action in Mali could prompt further Islamist revenge attacks on Western targets in Africa, where al Qaeda in the Islamic Maghreb (AQIM) operates across borders in the Sahara desert, and in Europe.
AQIM said it had carried out Wednesday's raid on the In Amenas gas facility in OPEC member Algeria, Mauritania's ANI news agency reported.
The Algerian interior ministry said: "A terrorist group, heavily armed and using three vehicles, launched an attack this Wednesday at 5 a.m. against a Sonatrach base in Tigantourine, near In Amenas, about 100 km (60 miles) from the Algerian and Libyan border."
"The Algerian authorities will not respond to the demands of the terrorists and will not negotiate," Interior Minister Daho Ould Kablia was quoted as saying by official news agency APS.
The gas field is operated by a joint venture including BP, Norwegian oil firm Statoil and Algerian state company Sonatrach.
ARMED MEN
BP said armed men were still occupying facilities at the gas field, which produces 9 billion cubic meters of gas a year(160,000 barrels of oil equivalent per day), more than a tenth of the country's overall gas output, and 60,000 barrels a day of condensate.
"The site was attacked and occupied by a group of unidentified armed people at about 0500 UK time. Contact with the site is extremely difficult, but we understand that armed individuals are still occupying the In Amenas operations site," it said.
A spokesman for BP said it usually had fewer than 20 people working at the site but would not be drawn on whether there were any talks with the hostage takers. He said: "Obviously we are doing everything we can to make sure our people are okay."
APS said a Briton and an Algerian security guard had been killed and seven people were injured. A French national was also killed in the attack, a local source said.
Also among those reported kidnapped by various sources were five Japanese nationals working for the Japanese engineering firm JGC Corp, a French national, an Austrian, an Irishman, and a number of Britons.
The U.S. State Department said it believed some U.S. citizens were also among the hostages, while Norwegian Prime Minister Jens Stoltenberg said 13 employees of Statoil, a minority shareholder in the gas venture, were being held.
A member of an Islamist group styling itself the "Blood Battalion" was quoted by Mauritanian media as saying that five of the hostages were being held at the gas facility and 36 were in a housing area. APS said the Islamist raiders had freed Algerians working at the gas facility, though Regis Arnoux, head of French company CIS Catering, told JDD weekly newspaper that 150 Algerian employees of his company were being held at the site.
"The operation was in response to the blatant interference by Algeria and the opening of its air space to French aircraft to bomb northern Mali," the Islamist spokesman told Mauritania's ANI news agency.
ANI, which has regular direct contact with Islamists, said that fighters under the command of Mokhtar Belmokhtar were holding the foreigners.
Interior Minister Kablia also told APS that Belmokhtar was leading the group of about 20 individuals, whom he said were not from Mali, Libya or "any other neighboring state".
Belmokhtar, dubbed by French intelligence as "the uncatchable", for years commanded al Qaeda fighters in the Sahara before setting up his own armed Islamist group late last year after an apparent fallout with other militant leaders.
The Algerian army was in the area of the gas facility, according to French and Algerian sources.
ANI reported that the Islamists said they were surrounded by Algerian forces and warned that any attempt to free the hostages would lead to a "tragic end". One of the hostage takers told ANI that the perimeter of the site had been mined.
SECURITY IMPLICATIONS
The attack was the first time in years that Islamist militants are known to have launched an attack on an Algerian energy facility.
The attack could have implications for security across the whole of Algeria's energy sector, which supplies about a quarter of Europe's natural gas imports and exports millions of barrels of crude oil each year.
Such an attack would require a large and heavily armed insurgent force with a degree of freedom to move around, all elements that al Qaeda has not previously had.
However, the conflict in neighboring Libya in 2011 changed the balance of force. Security experts say al Qaeda was able to obtain arms, including heavy weapons, from the looted arsenals of former leader Muammar Gaddafi.
The five Japanese work for the engineering firm JGC Corporation, Jiji news agency reported, quoting company officials. JGC has a deal with Sonatrach-BP-Statoil Association for work in gas production at In Amenas.
A reporter for Japan's NHK television managed to call a JGC worker in Algeria.
The worker said he got a phone call from a colleague at the gas field. "It was around 6 a.m. this morning. He said that he had been hearing gunshots for about 20 minutes. I wasn't able to get through to him since."
French troops launched their first ground operation against Islamist rebels in Mali on Wednesday in an action to dislodge from a strategic town al Qaeda-linked fighters who have resisted six days of air strikes.
(Additional reporting by Catherine Bremer and John Irish in Paris, Laurent Prieur in Nouakchott, Andrew Osborn in London, Balazs Koranyi in Oslo, Antoni Slodkowski in Tokyo, Raissa Kasolowsky in Abu Dhabi and Christian Lowe in Warsaw; Editing by Giles Elgood and Will Waterman)
(Reuters) – Facebook Inc’s new search tool has strong potential to generate revenue for the social networking company, though it is unlikely to challenge Google Inc as the world’s dominant search engine, Wall Street analysts said on Wednesday.
Facebook’s “graph search” tool, rolled out on Tuesday, lets its more than 1 billion users trawl their network of friends to find everything from restaurants to movie recommendations and is the company’s biggest foray into online search.
Graph search contains some category suggestions that can be easily monetized, BofA Merrill Lynch analysts said in a note.
“It should be easy to incorporate commercial search results via Facebook’s partnership with Bing,” they added.
Facebook currently has a partnership with Microsoft Corp, whose Bing search engine provides search results for external websites. Microsoft also integrates certain Facebook results into its Bing search results.
BofA Merrill Lynch analysts estimated Facebook could add $ 500 million in annual revenue if it can generate just one paid click per user per year, and raised its price target on the stock by $ 4 to $ 35.
Facebook’s shares were flat at $ 30.10 in early trading on Wednesday. They have jumped about 50 percent since November to Tuesday’s close after months of weakness following its bungled Nasdaq listing in May.
However, analysts at J.P. Morgan Securities said the lack of a timeline for the possible launch of graph search on mobile devices may weigh on the tool’s prospects.
The success of the graph search, which will rely heavily on local information, depends on Facebook launching a mobile product, the analysts said. Half of all searches on mobile devices seek local information, according to Google.
Graph search also lacks the depth of review content of Yelp Inc, the analysts added.
Pivotal Research Group analyst Brian Wieser said monetization potential would be largely determined by Facebook’s ability to generate a significant portion of search query share volumes and he expects that quantity to be relatively low.
“Consumers are likely to continue prioritizing other sources, i.e. Google. Advertisers would consequently only use search if they can, or are perceived to, satisfy their goals efficiently with Facebook,” Wieser said.
NO GOOGLE KILLER
Analysts mostly agreed that Facebook’s search tool was unlikely to challenge Google’s dominance in web search at least in the near term.
“As of now, we do not see Graph Search as a threat to Google Web search. Looking forward, Facebook Graph searches could be competitive with certain categories of Google searches, such as Places and Maps,” BofA Merrill said.
Internet search, social networking tools and e-commerce are among the biggest weapons that companies such as Facebook, Google and Amazon.com Inc have in their battle for supremacy. A successful combination of the three could win the day for them.
Google has been trying to combine social networking and search for more than a year by integrating Google+ into its search engine.
“Overall, Graph Search offers users a unique view to information not available on Google, but does not replace Google. We view the relationship between Facebook Graph Search and Google as both competitive and complementary,” Piper Jaffray & Co analysts said.
The brokerage said users looking to buy a cellphone, for example, could search for friends’ reviews on Facebook and expert reviews on Google.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Sriraj Kalluvila)
Social Media News Headlines – Yahoo! News
01/15/2013 at 06:00 PM ET
The answer to the question above? Not Jessica Alba, who carried a poodle purse to the Golden Globe Awards, but rather a fashion-forward red carpet newbie.
Quvenzhané Wallis, star of Beasts of the Southern Wild, made headlines for being the youngest person ever to be nominated for an Oscar for Best Actress. And now the 9-year-old has gained the attention of the fashion world, too, thanks to the adorable sparkly purple dress she wore while accepting the Best Young Actress trophy at the Critics’ Choice Awards last week.
In an interview with Vogue‘s André Leon Talley, the starlet stays tight-lipped about what she will wear to this year’s Academy Awards (see minute-mark 1:15 for her genius way of deflecting Talley’s question), but she does divulge some hints. Here’s what we know:
It’s possible her dress might be pink because it’s her favorite color, and it will almost definitely not be floor length. “I might step on it and trip on it,” she explains. “And I don’t want to humiliate myself!”
And if her Critics’ Choice Awards accessory selection is any indication, she might not only be the first 9-year-old to win an Oscar, but also the first person to attend the show carrying a pink furry dog purse with a color-coordinating bow and sequin onesie.
Watch the above video to find out more about Wallis, including what she got for Christmas (hint: it’s pink), the celeb whose style she loves and to listen to her sing a line from “Fashion Is My Kryptonite.” Tell us: Do you think Wallis should go pink and girlie or totally sophisticated for the Oscars?
–Jennifer Cress
PHOTOS: SEE RED CARPET STYLE IN ‘LAST NIGHT’S LOOK’
SAN FRANCISCO (AP) — A new government survey suggests the number of people seeking emergency treatment after consuming energy drinks has doubled nationwide during the past four years, the same period in which the supercharged drink industry has surged in popularity in convenience stores, bars and on college campuses.
From 2007 to 2011, the government estimates the number of emergency room visits involving the neon-labeled beverages shot up from about 10,000 to more than 20,000. Most of those cases involved teens or young adults, according to a survey of the nation's hospitals released late last week by the Substance Abuse and Mental Health Services Administration.
The report doesn't specify which symptoms brought people to the emergency room but calls energy drink consumption a "rising public health problem" that can cause insomnia, nervousness, headache, fast heartbeat and seizures that are severe enough to require emergency care.
Several emergency physicians said they had seen a clear uptick in the number of patients suffering from irregular heartbeats, anxiety and heart attacks who said they had recently downed an energy drink.
More than half of the patients considered in the survey who wound up in the emergency room told doctors they had downed only energy drinks. In 2011, about 42 percent of the cases involved energy drinks in combination with alcohol or drugs, such as the stimulants Adderall or Ritalin.
"A lot of people don't realize the strength of these things. I had someone come in recently who had drunk three energy drinks in an hour, which is the equivalent of 15 cups of coffee," said Howard Mell, an emergency physician in the suburbs of Cleveland, who serves as a spokesman for the American College of Emergency Physicians. "Essentially he gave himself a stress test and thankfully he passed. But if he had a weak heart or suffered from coronary disease and didn't know it, this could have precipitated very bad things."
The findings came as concerns over energy drinks have intensified following reports last fall of 18 deaths possibly tied to the drinks — including a 14-year-old Maryland girl who died after drinking two large cans of Monster Energy drinks. Monster does not believe its products were responsible for the death.
Two senators are calling for the Food and Drug Administration to investigate safety concerns about energy drinks and their ingredients.
The energy drink industry says its drinks are safe and there is no proof linking its products to the adverse reactions.
Late last year, the FDA asked the U.S. Health and Human Services to update the figures its substance abuse research arm compiles about emergency room visits tied to energy drinks.
The Substance Abuse and Mental Health Services Administration's survey was based on responses it receives from about 230 hospitals each year, a representative sample of about 5 percent of emergency departments nationwide. The agency then uses those responses to estimate the number of energy drink-related emergency department visits nationwide.
The more than 20,000 cases estimated for 2011 represent a small portion of the annual 136 million emergency room visits tracked by Centers for Disease Control and Prevention.
The FDA said it was considering the findings and pressing for more details as it undertakes a broad review of the safety of energy drinks and related ingredients this spring.
"We will examine this additional information ... as a part of our ongoing investigation into potential safety issues surrounding the use of energy-drink products," FDA spokeswoman Shelly Burgess said in a statement.
Beverage manufacturers fired back at the survey, saying the statistics were misleading and taken out of context.
"This report does not share information about the overall health of those who may have consumed energy drinks, or what symptoms brought them to the ER in the first place," the American Beverage Association said in a statement. "There is no basis by which to understand the overall caffeine intake of any of these individuals — from all sources."
Energy drinks remain a small part of the carbonated soft drinks market, representing only 3.3 percent of sales volume, according to the industry tracker Beverage Digest. Even as soda consumption has flagged in recent years, energy drinks sales are growing rapidly.
In 2011, sales volume for energy drinks rose by almost 17 percent, with the top three companies — Monster, Red Bull and Rockstar — each logging double-digit gains, Beverage Digest found. The drinks are often marketed at sporting events that are popular among younger people such as surfing and skateboarding.
From 2007 to 2011, the most recent year for which data was available, people from 18 to 25 were the most common age group seeking emergency treatment for energy drink-related reactions, the report found.
"We were really concerned to find that in four years the number of emergency department visits almost doubled, and these drinks are largely marketed to younger people," said Al Woodward, a senior statistical analyst with the Substance Abuse and Mental Health Services Administration who worked on the report.
Emergency physician Steve Sun said he had seen an increase in such cases at the Catholic hospital where he works on the edge of San Francisco's Golden Gate Park.
"I saw one young man who had mixed energy drinks with alcohol and we had to admit him to the hospital because he was so dehydrated he had renal failure," Sun said. "Because he was young he did well in the hospital, but if another patient had had underlying coronary artery disease, it could have led to a heart attack."
___
Follow Garance Burke on Twitter at http://twitter.com/garanceburke
NEW YORK (Reuters) - Stocks held near the unchanged mark on Wednesday as concerns about global economic growth and a drop in Boeing shares offset strong bank results and gains in technology stocks.
Goldman Sachs
JPMorgan shares edged up 0.2 percent at $46.44 and Goldman was up 3.5 percent to $140.27. The KBW bank index <.bkx> gained 0.3 percent.
But with only 37 companies in the S&P 500 having reported earnings so far this season, investors are exercising caution until signs of growth can emerge.
According to Thomson Reuters data, S&P 500 earnings growth is now seen up 2.2 percent from a year ago, Thomson Reuters data showed.
"We didn't have much in the way of earnings, we had some of the big banks, but you've got the heart of earnings season coming up and people are sort of on the sidelines here," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.
A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply scaled back its forecast for world growth in 2013 to 2.4 percent from an earlier forecast of 3.0 percent.
Shares of Dow component Boeing fell 3.3 percent to $74.39, the biggest drag on the Dow, on concerns about its new Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s after an emergency landing, adding to safety concerns triggered by a series of recent incidents.
The Dow Jones industrial average <.dji> dropped 35.95 points, or 0.27 percent, to 13,498.94. The Standard & Poor's 500 Index <.spx> shed 1.60 points, or 0.11 percent, to 1,470.74. The Nasdaq Composite Index <.ixic> gained 2.91 points, or 0.09 percent, to 3,113.68.
Losses were curbed on the S&P 500 and the Nasdaq moved higher on a bounce in Apple shares, which were up 3.6 percent at $503.31 after losses in three straight sessions. Morgan Stanley stamped the tech giant as a "best idea," citing overblown concerns about iPhone shipments. The S&P technology sector index <.splrct> gained 0.5 percent.
"Apple rebounding certainly helps the market - if Apple wasn't rebounding I don't think we would be at a flat level," said Ghriskey.
Talks to take Dell Inc
U.S. consumer prices were flat in December, pointing to muted inflation pressures that should give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.
Other data showed U.S. homebuilder confidence in the market for single family homes held steady near seven year highs in January, suggesting the outlook for the housing market remained upbeat.
(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)
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