(Updates to early morning)
By Haitham Haddadin
NEW YORK, April 17 (Reuters) - Stocks were flat early on Thursday after data showed weakness in the U.S. labor market, but technology investors found comfort in financial results from high-tech companies Nokia Corp. and Broadcom Corp .
The Dow Jones industrial average fell 5.95 points, or 0.07 percent, at 8,251.66. The broader Standard & Poor's 500 Index was up 0.83 of a point, or 0.09 percent, at 880.74. The technology-laced Nasdaq Composite Index rose 3.21 points, or 0.23 percent, at 1,397.93.
"Overall, the trend is a little lower in the market short-term," said Bob Basel, a senior trader at Salomon Smith Barney. "The market wants to pull back as it was getting close to technical resistance levels, and also some volatility should be expected due to the options expiry."
Market watchers were also keeping an eye on news that the New York Stock Exchange, the No. 1 U.S. stock exchange, confirmed it is investigating the trading practices of several NYSE specialist trading firms. Specialists manage the buying and selling of shares on the floor of the exchange.
"That shakes the confidence in how or where you want to execute your order," Basel said. "I don't know if that will impact the market dramatically but it's something the bears are watching."
On the data front, a government report ahead of the open showed that more Americans than expected signed up for state unemployment benefits last week, reflecting increased layoffs in the auto industry as the world's richest economy limped forward.
"Unemployment claims going up 30,000 as opposed to 10,000 is negative," said Peter Cardillo, chief strategist at Global Partners Securities Inc. "The earnings were good. Nokia had set the stage for an early rally, but I suspect that the jobless claims will take center stage."
Investors will get key data in the Philadelphia Federal Reserve's survey of business conditions around midday, which could be a precursor to the national manufacturing number due later this month.
European shares reversed early losses and edged higher after Nokia, the world's biggest mobile phones maker, posted better-than-expected earnings. Its shares rose 51 cents to $15.69, or 3.3 percent on the New York Stock Exchange.
Broadcom shares, which were among the most active on the Nasdaq, rose $1.45 to $15.50 on Nasdaq after the telecommunications gear maker's earnings, excluding charges, topped analysts' expectations.
Advanced Micro Devices Inc. fell 29 cents to $7.61, or 3.5 percent. The No. 2 maker of microprocessors has reported a wider first-quarter loss amid continued sluggish computer sales, though its sales beat expectations.
Sun Microsystems Inc. reported a slim quarterly profit, reversing a year-earlier loss, and an eighth straight quarter of lower revenue. Shares fell 17 cents to $3.15, or about 5 percent.
Shares of Apple Computer Inc. edged down 29 cents to $12.95, or more than 2 percent. The maker of Mac computers had posted a 65 percent drop in quarterly net income and a slight decline in revenue.
Biogen Inc. said earnings fell as it spent more to fend off competition for its flagship product, the multiple sclerosis drug, Avonex. But excluding one-time charges, the biotechnology company posted earnings that topped the year ago figure. Biogen shares rose 71 cents to $34.54.