US STOCKS-Wall St trims losses, tech shares gain

* Economy concerns weigh on global equities

* HP shares dip after brokerages cut price target

* Dow off 0.5 pct, S&P 500 off 0.3 pct, Nasdaq up 0.1

* For up-to-the-minute market news see [STXNEWS/US]
(Updates to late afternoon)

By Leah Schnurr

NEW YORK, Aug 20 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) eased off their
lows late on Friday as tech shares gained, though investors
remained jittery over the strength of the economic recovery.

The Nasdaq fared better than other indexes to trade flat
after positive forecasts from Marvell Technology Group Ltd
(MRVL.O: ) and Intuit Inc (INTU.O: ). Chipmaker Marvell gained 9.3
percent to $16.29, while software maker Intuit jumped 13.6
percent to $44.04. [ID:nSGE67I0JC] [ID:nN19256127]

But investors did not embrace all tech shares.
Hewlett-Packard Co (HPQ.N: ) was among the biggest drags on the
Dow after several brokerages cut their price targets on the
computer maker’s shares due to concern about demand for tech
products. HP fell 2.3 percent at $39.83. [ID:nN20135798]

Thursday’s gloomy jobs and regional manufacturing data
remained in the forefront as investors debated how much the
recovery could slow.

Nonetheless, some bargain hunters emerged after Thursday’s
drop that sent stocks to their lowest close in nearly a month.

“Earnings season came in pretty strong, M&A activity was
very encouraging this week and that’s usually a bullish sign.
The flip side is the economic data this week has been very,
very poor,” said Ryan Detrick, senior technical strategist at
Schaeffer’s Investment Research in Cincinnati, Ohio.

“No one’s making a big bet either way, it’s just short-term
moves and the net is, nothing is getting done.”

The Dow Jones industrial average (.DJI: ) slipped 52.67
points, or 0.51 percent, to 10,218.54. The Standard & Poor’s
500 Index (.SPX: ) dipped 3.50 points, or 0.33 percent, to
1,072.13. The Nasdaq Composite Index (.IXIC: ) added 1.97 points,
or 0.09 percent, to 2,180.92.

(Reporting by Leah Schnurr; Editing by Kenneth Barry)

US STOCKS-Wall St trims losses, tech shares gain