US markets made a flat closing on Friday, recovering from their early slide on the back of better than expected GDP and consumer confidence data. Initially there was cautiousness in the markets as Apple Inc reported a second straight quarter of disappointing results, while Amazon.com Inc after posting its first quarterly net loss in more than five years, forecast weaker than expected fourth-quarter revenue. However, the mood got some boost with the Commerce Department reporting that gross domestic product expanded at a 2.0 percent annual rate compared to 1.3 percent growth in the second quarter. Meanwhile, other report stated that US consumer sentiment rose to its highest level in five years in October as Americans were more upbeat about prospects for the economy and their own finances.
The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment rose to 82.6 from 78.3 in September. It was at its highest level since September 2007, though slightly below the preliminary reading of 83.1.
The Dow Jones industrial average gained 3.53 points or 0.03 percent, to 13,107.21. The Standard & Poor's 500 Index was marginally down by 1.03 points or 0.07 percent at 1,411.94, while the Nasdaq Composite Index ended tad higher by 1.83 points or 0.06 percent to 2,987.95.