Stocks
were mixed early Friday, as any relief about a surprise jump in new
home construction was countered by worries about inflation as oil and
gas prices hit new records.
Stocks rose Thursday, with
technology leading the way, thanks to a rash of corporate deal-making
activity. The advance continued early Friday.
In the news:April
new home construction rose to a seasonally adjusted annual rate of
1,032,000, the government said, topping economists' forecasts and
rising from March levels. The jump was largely due to apartment
construction. Building permits rose to a seasonally adjusted annual
rate of 978,000, also topping forecasts and rising from March levels.