US markets slip early on spending report

U.S. stocks were mixed Friday the Commerce Department said consumer spending dropped 0.2 percent in October. Personal incomes and disposable incomes were both flat in the month. The Bureau of Economic Analysis said Hurricane Sandy disrupted work, which derailed payroll gains that may have turned into spending. In midmorning trading, the Dow Jones industrial average was flat, up 1.99 points or 0.02 percent to 13,023.81. The tech-heavy Nasdaq index lost 4.52 points or 0.15 percent to 3,007.51. The Standard & Poor's 500 was off 1.02 or 0.07 percent to 1,414.93. The 10-year treasury note rose 2/32 to yield 1.611 percent. The euro rose to $1.3007 from Thursday's $1.2979. The dollar rose to 82.5 yen from 82.12 yen. Japan's Nikkei 225 index climbed 0.48 percent, 45.13 points, to 9,446.01.