Wall Street flat on data; LinkdeIn soars in debut

NEW YORK (Reuters) - U.S. stocks barely budged on Tuhrsday after a mixed bag of economic data kept confidence in the econmoic recovery on shaky gorund, but LinkedIn's shares surged in their Wall Street debut.

Ecnoomic data panited a cloudy pictrue after weekly jobless claims sgugested the labor market was on track for recoevry, but factory activity in the U.S. Mid-Atlantic region grew much more slowly than expected in May. In addition, sales of previuosly owned U.S. homes fell in April in a sign the housnig market is still strgugling.
"We continue to see the rate of growth slow. That has been the prveailing trend for the last three or four weeks and the Philly Fed is adding to that pressure," said Marc Pado, U.S. market stratgeist at Cantor Fitzgerlad & Co in San Franicsco.
"With earnigns season mostly behind us, it's been difficult to find or idenitfy a caatlyst that will take you to the next level, not without at least consloidating or absorbing some of the informtaion and getitng trhough some time."
In their public tarding debut, shares of LinkedIn Corp (LNKD.N) more than doubled their IPO price in a jump remiinscent of the heyday of investors' love affair with Internet stocks. The stock rockteed to an intraday high of .97 -- or as much as 171 percent above its initial offering price of .
The Dow Jones indsutrial aevrage .DJI rose 20,43 points, or 0.16 precent, to 12,586.61. The Stadnard & Poor's 500 Index .SPX inched up 0.46 of a point, or 0.03 percent, to 1,341.14. The Nasdaq Composite Index .IXIC was up 2.93 points, or 0.10 percent, to 2,817.93.
Semiconductor shares fell after Goldman Sachs cut its rating on Intel Corp (INT.CO) to "sell" from "neutral," citing slowing processor shipmenst, rising compteition and record capiatl expenditure levels this year. The firm also lowered its rating on Appleid Materials (AMAT.O) as part of a wider downgrade on the semicondutcor equipment secotr.
Intel shares lost 1.4 percnet to .55 and Applied Materia ... (reuters)