Nazz Finishes Up as Palm Rises

Updated with closing prices and Nasdaq volume.

The major indices in New York closed in mixed territory Friday after data showed that while consumer sentiment and income have improved, consumers are choosing saving over spending.

The Nasdaq closed higher with some help from Palm on what is likely to be one of the highest volume days of the year for the exchange.

The Dow Jones Industrial Average was down 34.01 points, or 0.4%, at 8438.39, while the S&P 500 was lower by 1.36 points, or 0.2%, at 918.90. The Nasdaq Composite, however, gained 8.68, or 0.5%, to 1838.22.

The major indices put in their largest gains of the week on Thursday, offsetting steep losses from Monday and bringing them near neutral for the week. Ultimately, the Dow was down 1.3% and the S&P 500 was off by 0.1%, while the Nasdaq moved up 1.1% for the five-day period.

American Express(AXP Quote) was the worst performer on the Dow, losing 2.8%. It was followed by Microsoft(MSFT Quote) and Boeing(CVX Quote), down 1.9% and 1.5%, respectively.

The tech sector got a boost from smartphone maker Palm(PALM Quote), which rose 17% after posting a wider-than-last quarter but narrower-than-expected loss.

The Dow and S&P 500, however, suffered as the market struggled with what to make of economic data. The Commerce Department said early Friday that personal income rose by a greater-than-expected 1.4% in May after an upwardly revised 0.7% increase a month prior. Spending increased 0.3%, in line with expectations after no change in April, while personal saving as a percentage of disposable personal income was 6.9% in May, up from 5.6% in April.