2012.06.04 16:25:04 Oil Up Slightly After Week of Declines

US Stocks Mixed Ahead of Factory Orders Data --Stock futures edge up on hopes for euro-crisis resolution --Spanish stocks jump as unemployment declines, hopes for help for banks --Data on factory orders in April on tap NEW YORK--Stocks traded around the flat line, following Friday's sharp losses, ahead of a report on U.S. factory orders The Dow Jones Industrial Average fell 19 points, or 0.1%, to 12098. The Dow fell 274.88 points on Friday and slid into negative territory for the year. The Standard & Poor's 500-stock index fell two points, or 0.2%, to 1275 and the Nasdaq Composite gained two points, or 0.1%, to 2749. On the economic calendar, data on factory orders for April are due out at 10 a.m. EDT. Economists surveyed by Dow Jones Newswires expect an unchanged reading after a 1.5% decline in March. European markets were mostly higher, recovering earlier losses after on encouraging jobless data and hopes that the Spanish government is working toward a plan to strengthen its banks. The Stoxx Europe 600 rose less than 0.1% after falling as much as 0.7% earlier in the session. Spain's IBEX 35 rallied 2.9% after data showed that May unemployment fell 0.6% from April. Investors took heart in reports that Germany is sending strong signals that it would eventually be willing to lift its objections to ideas such as common euro-zone bonds or mutual support for European banks. "There's a little bit of a change of sentiment, with reports that Germany more in favor stronger EU than people were thinking, but it's being met with caution," said Rick Fier, director of equity trading at Conifer Securities. "People are more nervous this week than most. There's no real economic news or earnings, so the markets will center around rumors out of Europe," Mr. Fier said. Also boosting sentiment, Spain's El Pais newspaper reported that Spanish Finance Minister Luis de Guindos was working with European partners to find a way to recapitalize the country's banks without having to resort to an international bailout. In addition, Portugal said it would inject EUR6.65 billion ($8.27 billion) into three of its largest lenders to help strengthen the banking sector. Asian markets were sharply lower on the back of U.S. weakness on Friday. China's Shanghai Composite slumped 2.7% and Japan's Nikkei Stock Average shed 1.7%. Crude-oil futures were flat at $82.22 a barrel, while gold futures inched down 0.1% to $1,621 a troy ounce. The U.S. dollar slipped against the euro but inched higher versus the yen. The yield on the benchmark 10-year U.S. Treasury note rose to 1.514%. In the corporate arena, shares of Facebook fell 1.1% after analysts at Bernstein assigned the stock an "underperform" rating and handed out the lowest price target on Wall Street. Separately, The Wall Street Journal reported the company is developing technology that would allow children younger than 13 years old to use the social-networking site under parental supervision. Auxilium Pharmaceuticals surged 6.1% after the company announced positive test results from a trial of its treatment for Peyronie's disease. Vanguard Natural Resources rose 1.6% after the company said it has agreed to buy some natural-gas and liquids assets from Antero Resources for $445 million. O'Reilly Automotive rose 1% after the company said it was increasing its share repurchase program by $500 million. Write to Chris Dieterich at christopher.dieterich@dowjones.com (END) Dow Jones Newswires June 04, 2012 06:55 ET (10:55 GMT)