Stock indexes end mixed on relatively tame inflation

? U.S. stocks on Friday ended the day, week and month mixed, but with a largely positive showing, as personal computer giant Dell Inc. reported profits that exceeded forecasts and the government said a key gauge of inflation was temperate in April.

“I think the bull story is just starting to pan out,” said Marc Pado, U.S. market strategist at Cantor Fitzgerald.

The Dow Jones Industrial Average fell 7.9 points to end at 12,638.32, giving the blue-chip index a weekly gain of 1.2 percent but a monthly slide of 1.4 percent.

Of the Dow’s 30 components, 16 posted declines Friday, with Bank of America Corp. off the most at 1.7 percent. The Dow’s top advancer was American Insurance Group Inc., up 1.9 percent.

The S&P 500 added 2.12 points to 1,400.38, for a weekly fall of 1.8 percent and a monthly rise of 1.1 percent.

Energy led gains among the S&P’s 10 industry groups, up 1.5 percent, followed by information technology, up almost 1 percent. Financials led the index’s sector declines, off 0.8 percent, while consumer discretionary shares fell 0.4 percent.

The technology-laden Nasdaq Composite advanced 14.34 points to 2,522.66, giving it a weekly advance of 3.2 percent and a monthly gain of 4.6 percent. Dell shares added 5.7 percent after it reported strong-first quarter results.

Kicking off a round of economic data, the Commerce Department estimated that personal incomes, consumer spending and consumer prices all rose 0.2 percent in April – data suggesting, on balance, a further weakening of the economy in the second quarter.

Later data had U.S. consumer sentiment dropping in May to its lowest level in 28 years, according to the University of Michigan/Reuters index.

And, a measure of business activity in the Chicago region contracted for a fourth straight month in May, according to a survey of corporate purchasing managers.

On the New York Stock Exchange, volume neared 1.4 billion, with advancing issues ahead of those declining by roughly 9 to 7. On the Nasdaq, almost 958 million shares were exchanged, and decliners pulled just ahead of advancing issues.