Wall Street cuts losses; Nasdaq, S&P positive

NEW YORK (Reuters) - Stocks cut losses on Friday with the Nasdaq turning positive, boosted by gains in financials and Google, which reported earnings on Thursday that beat Wall Street's expectations.

The Dow remained down about 1 percent following an earnings report from bellwether General Electric , in which the company reported a quarterly profit that met expectations but warned of an "extremely difficult" 2009.

The Dow Jones industrial average <.DJI> was down 68.57 points, or 0.84 percent, at 8,054.23. The Standard & Poor's 500 Index <.SPX> slipped 0.59 points, or 0.07 percent, to 826.91. The Nasdaq Composite Index <.IXIC> was up 9.60 points, or 0.66 percent, at 1,475.09.

(Reporting by Leah Schnurr, Editing by Chizu Nomiyama)