Wall Street opens flat, 4th weekly gain in hands

U.S. stocks were little changed on Friday, with benchmark indices heading for the fourth weekly straight gain.

Stocks have benefited from better-than-expected corporate earnings, improvement in much of the U.S. economy, and investor disdain for low-return prospects in other assets such as bonds.

That positive background has helped stocks to grind higher on a slow week ahead of Monday`s Labor Day holiday in the U.S., for which stock trading will be closed.

However, gains were limited over the last two trading session in the wake of reignited worries over the Russia-Ukraine crisis.

Russian President Vladimir Putin on Friday used harsh language against Ukraine and its allies over the failure of peace talks. Ukraine has accused Russia of sending troops to fight alongside rebels in eastern Ukraine.

-The Dow Jones Industrial Average fell 0.15% or 26.46 points to 17053.11

-The S&P 500 index fell 0.06% or 1.15 points to 1995.59

-The NASDAQ Composite gained 0.16% or 7.28 points to 4564.93 . As of 10:47 a.m. ET

The yield on the benchmark 10-year note fell to 2.334% on Thursday, hitting the lowest level since June 2013. Yields move inversely with prices. In recent action, the yield rose to 2.332%.

On the economic front Friday, household spending fell 0.1% in July, the Commerce Department reported, bucking economists` median forecast for a 0.3% increase. Personal income rose a less-than-expected 0.2%.

European stocks wavered Friday, with the Stoxx Europe 600 down 0.1%, reversing earlier gains. The euro zone`s annual rate of inflation fell to 0.3% in August from 0.4% in July. That is a far cry from the European Central Bank`s medium-term target of inflation just under 2%.

The continued decline in inflation has added to expectations that the ECB will be forced to take more aggressive action to boost the region`s economic recovery.

In corporate news, Apple Inc. has sent out invitations to an event on Sept. 9, where the company is expected to launch its annual iPhone upgrade.