* Oracle, RIMM jump after qtrly results
* Consumer sentiment unexpectedly worsens
* Dow off 0.1 pct, S&P up 0.02 pct, Nasdaq up 0.2 pct
* For up-to-the-minute market news see []
(Updates to midmorning)
By Leah Schnurr
NEW YORK, Sept 17 (Reuters) - The S&P 500 briefly pierced a
key resistance level on Friday, but stocks failed to hold gains
after data showed consumer sentiment unexpectedly worsened in
early September.
Solid earnings from technology bellwethers Oracle Corp
<ORCL.O> and Research In Motion Ltd <RIM.TO><RIMM.O> limited
declines, keeping major indexes little changed in mid-morning
trading.
Consumer sentiment fell to its weakest level in more than a
year, a private survey showed, as worries over jobs and
finances intensified. Earlier, the government said consumer
prices increased slightly more than expected in August, but
core prices were flat. For details, see []
[]
The S&P managed to briefly overcome key technical
resistance around 1,130, pushing through intraday highs set in
June and August. The level has represented the top of a trading
range for months, and a decisive move above it could be a
bullish sign.
"Clearly coming into today on a short-term basis we were in
a minor uptrend, and the bulls showed they were in command of
the marketplace in opinion or buying power," said Jeffrey
Friedman, senior market strategist at Lind-Waldock in Chicago.
If indexes are unable to regain ground before the close of
trading, "it's going to question that concept," said Friedman.
Support for the S&P 500's 200-day moving average remains
around 1,116, a level it vaulted on Monday.
The Dow Jones industrial average <> dipped 7.56 points,
or 0.07 percent, to 10,587.27. The Standard & Poor's 500 Index
<.SPX> added 0.17 points, or 0.02 percent, to 1,124.83. The
Nasdaq Composite Index <> rose 4.43 points, or 0.19
percent, to 2,307.68.
The quarterly settlement and expiration of four different
types of September equity futures and options contracts, also
known as "quadruple witching," conclude later Friday, which can
add volatility to the market.
Oracle, the world's No. 3 software maker, and Research In
Motion, which makes the BlackBerry smartphone, were the top
leaders on the Nasdaq after both posted better-than-expected
results and gave outlooks that topped expectations.
Oracle shot up 6.4 percent at $26.99, while RIM rose nearly
2 percent to $47.29.
Texas Instruments Inc <TXN.N> gained 1.8 percent to $25.43
after the chipmaker increased its stock repurchase program and
boosted its quarterly dividend by 8 percent. []
(Editing by Jeffrey Benkoe)