NEW YORK (Reuters) - Stocks gained slightly in skittish trade on Friday, with the Nasdaq briefly rising 1 percent as investors scoured the market for beaten-down shares, offsetting mounting concerns about recession.
A report showing that construction starts on U.S. homes slid to a new 17-1/2-year low increased recession fears, but reassuring profits from such bellwethers as GOOGLE (GOOG.NQ)Inc
Sentiment got a lift from billionaire investor Warren Buffett, writing in the New York Times, said he is buying U.S. stocks, offering investors yet another reason to wade back into the market, albeit cautiously.
The Dow Jones industrial average <.DJI> was up 1 point, or 0.01 percent at 8,980.26. The Standard & Poor's 500 Index <.SPX> was up 0.50 point, or 0.05 percent, at 946.93. The Nasdaq Composite Index <.IXIC> was up 7.01 points, or 0.41 percent, at 1,724.72, after gaining 1 percent to a session high at 1,734.88..
(Reporting by Ellis Mnyandu)
