Wall Street opens flat, Obama to speak on "cliff"

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December 1, 2012 1:42 AM EST

Wall Street opened flat on Friday, amid caution ahead of a statement from President Obama on the progress of budget talks in Washington that have fueled volatility and nervousness in the financial markets.

The Dow Jones industrial average <.DJI> gained 5.45 points, or 0.04 percent, to 13,027.27. The Standard & Poor's 500 Index <.SPX> dropped 0.51 points, or 0.04 percent, to 1,415.44. The Nasdaq Composite Index <.IXIC> gained 0.07 points, or 0.00 percent, to 3,012.10.

(Reporting by Edward Krudy; Editing by Bernadette Baum)

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Copyright 2012 Thomson Reuters. All rights reserved.

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