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NEW YORK (CNNMoney)
A monthly report from the New York branch of the Federal Reserve showed that manufacturing in the state picked up precipitously last month. That wasn't enough to make stocks budge.
"We're in digestion mode," said Sal Catrini, an analyst at SunTrust Robinson Humphrey. "We've had a really nice run."
The Dow Jones Industrial Average, the S&P 500 and the Nasdaq moved up 0.1%.
Investors are growing wary about just how high stocks have soared so far this year.
Even after recent dips, the Dow is still within 1.6% of its all-time high, hit in October 2007, and the S&P 500 is about 4% shy of its record high, also set in October 2007. All three indexes are up between 5% and 7% for the year.
Investors will see two more economic reports Friday. The Census Bureau will publish data on industrial production later in the morning, and the University of Michigan will release a report on consumer sentiment.
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On the corporate front, investors have more earnings results to take in Friday.
About 65% of the companies in the S&P 500 that had reported fourth-quarter earnings as of Thursday topped analysts' expectations, according to S&P Capital IQ. But the bulk of companies that have issued guidance for the first quarter have had negative outlooks.
Burger King (BKW) reported earnings that beat expectations. Shares rose more than 3%. Meanwhile, Kraft Foods (KRFT) posted weaker-than-expected revenue, sending shares .
Shares of nutritional supplements company Herbalife (HLF) surged more than 10% after activist investor Carl Icahn disclosed a 13% stake in the firm on Thursday.
Carnival (CCL) shares slid slightly as the company's Triumph cruise ship docked and passengers were finally able to leave, just days after a fire and power outage left the ship and 3,000 passengers stranded at sea.
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U.S. stocks finished mostly flat Thursday as concerns about the European economy weighed on sentiment.
European markets were flat to slightly weaker in afternoon trading, while Asian markets ended mixed.
Japan's Nikkei lost 1.2% and but Hong Kong's Hang Seng gained 0.13%. The Shanghai exchange was closed for the Lunar New Year holiday.
The dollar was higher versus the euro and the Japanese yen, but gained ground versus the British pound.
Oil and gold prices dropped.
The price on the 10-year Treasury note declined, sending the yield up to 1.98% from 1.95% late Monday. 
First Published: February 15, 2013: 9:50 AM ET
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