Wall Street flat as data offsets 'cliff' hope

U.S. stocks opened flat on Friday after disappointing economic data offset optimism following a Wall Street Journal report that White House officials were discussing taking a more flexible approach in negotiations over the "fiscal cliff."

The Dow Jones industrial average gained 0.23 point to 12,542.61. The Standard & Poor's 500 Index added 0.24 point, or 0.02 percent, to 1,353.57. The Nasdaq Composite Index dropped 2.33 points, or 0.08 percent, to 2,834.60.