Google Finance: MARKET SNAPSHOT: U.S. Stocks Mostly Lower As Consumer Spending Slows

U.S. stocks on Friday wavered mainly lower, on track for their worst month in 28 years, as generally bleak economic data showed consumers spending less and Electronic Arts Inc. joining the list of companies cutting forecasts and employees.

Up and down during the morning, the Dow Jones Industrial Average (DJI) was recently ahead 12.1 points at 9,192.79, with 17 of its 30 components trading higher.

JP Morgan Chase (JPM) gained the most, up 4%, while General Motors Corp. (GM) proved the blue-chip index's biggest decliner, down 3.1 %,

The S&P 500 (SPX) fell 1.71 points at 952.38, while the Nasdaq Composite ( RIXF) dropped 2.9 points at 1,695.62.

The energy, materials and utilities sectors led the losses among the S&P's 10 industry groups. Telecommunication services and consumer discretionary and staples fared the best in early action.

Among the energy sector's biggest laggards, Rowan Companies Inc. (RDC) fell 7.6%.

In the telecommunication services sector, American Tower Corp.(AMT) shined, its shares lately up 6%.

Volume on the New York Stock Exchange neared 267 million, with advancers just ahead of decliners. On the Nasdaq, 225 million shares were exchanged, with advancers topping decliners roughly 7 to 5.

Stock futures pared declines after some of the economic data, including the Commerce Department's report that U.S. consumer spending in September tallied its largest drop in four years. .

U.S. consumer sentiment fell in October from the month before to reach a record monthly decline, according to the University of Michigan/Reuters index. .

The Chicago Purchasing Managers reported the Chicago Business Barometer plummeted to 37.8 in October, its lowest level since May 2001.

U.S. stocks closed with strong gains Thursday as amid indications of furthering easing in troubled credit markets. The Dow Jones Industrial Average rose 189 points, the S&P 500 rose 24 points and the Nasdaq Composite added 41 points.

But over the course of October, the S&P 500 has lost 18% of its value, its worst month since 1987.

Federal Reserve Chairman Ben Bernanke will speak later Friday on mortgage finance. San Francisco Fed President Janet Yellen, who doesn't vote on rate decisions this year, said U.S. rates could go "a little lower."

Overseas, the Bank of Japan defied expectations a bit, cutting rates to 0.3% from 0.5%, rather than the 25 basis point cut many expected. .

The Nikkei 225 dropped 5% in Tokyo. .

In London, a profit warning from telecoms group BT Group (BT) sent the U.K. firm down around 20%. The FTSE 100 turned 0.6% higher in afternoon trade.

On the New York Mercantile Exchange, crude-oil futures fell 85 cents to $65.11 a barrel.

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On the earnings front, oil giant and Dow industrials component Chevron Corp. ( CVX) fell 2.4% after reporting third-quarter income rose 114% to $7.9 billion.

Washington Post Co. (WPO) said its third-quarter profit fell sharply to $10.3 million from $72.5 million.

Electronics Arts Inc. (ERTS) tumbled 16.4% after it late Thursday posted a wider loss and reduced its annual forecast, while saying it would lay off 6% of its workforce. .

Shares of Sun Micro Systems Inc. (JAVA) also fell, down 13.8%, after the software company reported a $1.68 billion quarterly loss.