Stocks fluctuated in a narrow range Thursday as investors digested the government's estimate of first-quarter economic growth and an uptick in last week's unemployment claims.
Investors also eyed oil prices, which declined.
The Commerce Department revised its reading of first-quarter gross domestic product to an annual rate of 0.9 percent _ above the department's previous estimate of 0.6 percent, and above fourth-quarter growth of 0.6 percent. Though the data suggest the economy may avoid a technical recession _ defined by two straight quarters of decreasing GDP _ the upward revision was not as big as many investors had hoped.
The Labor Department, meanwhile, said initial jobless claims rose by 4,000 to 372,000. The rise was a bit milder than expected, but continuing unemployment claims remained above 3 million for the fifth consecutive week, a poor sign for the job market.
In midmorning trading, the Dow Jones industrial average rose 18.48, or 0.15 percent, to 12,612.51.
Broader stock indicators were mixed. The Standard & Poor's 500 index slipped 1.08, or 0.08 percent, to 1,389.76, and the Nasdaq composite index advanced 4.28, or 0.17 percent, to 2,490.98.
The price of government debt declined. The 10-year Treasury note's yield, which moves opposite its price, rose to 4.08 percent from 4.03 percent late Wednesday.
The Federal Deposit Insurance Corp. reported Thursday that the number of financial institutions on its "problem list" rose to 90 in the first quarter from 76 in the prior period. The FDIC, which provides insurance for deposits, provides the list of institutions with weak financial conditions.
Wall Street's modest moves early Thursday come ahead of a speech from Federal Reserve Chairman Ben Bernanke in Basel, Switzerland, on transferring risk and financial stability. The speech is scheduled for 2:30 p.m. EDT.
And traders kept watch over crude oil, which along with gasoline prices poses a threat to consumer spending, and in turn, the overall economy. Light, sweet crude fell $1.93 to $129.10 per barrel on the New York Mercantile Exchange.
The dollar rose against other major currencies, while gold prices fell.
In corporate news, Costco Wholesale Corp. rose 56 cents to $73.80 after reporting that its fiscal third-quarter profit rose 32 percent, above analyst expectations, as customers flocked to its warehouse clubs to find bargains on food and toiletries.
However, retailer Sears Holdings Corp. fell $1.71 to $87.65 after posting a $56 million first-quarter loss that was worse than Wall Street forecast. The company said customers allocated more of their budgets to gasoline and food.
Advancing issues outnumbered decliners by about 4 to 3 on the New York Stock Exchange, where volume came to 216.3 million shares.
The Russell 2000 index of smaller companies rose 3.04, or 0.41 percent, to 741.50.
Overseas, Japan's Nikkei stock average closed up 3.03 percent. In afternoon trading, Britain's FTSE 100 fell 0.43 percent, Germany's DAX index declined 0.23 percent, and France's CAC-40 fell 0.12 percent.
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