* Investors eye FOMC meeting next week
* Producer prices rise more than expected
* Consumer sentiment falls
* Elan climbs on news it is up for sale
* Groupon jumps after Deutsche Bank raises rating
* Dow up 0.2 pct, S&P up 0.2 pct, Nasdaq flat
By Leah Schnurr
NEW YORK, June 14 Wall Street was little changed
on Friday as investors were kept on their heels by uncertainty
over how soon central banks will rein in the stimulus programs
that have fueled an equity market rally this year.
Jitters over the longevity of monetary policy around the
world has roiled markets recently and nerves were stretched
further this week when the Bank of Japan held policy steady.
The prospect that the accommodative stance of central banks
- particularly the Federal Reserve - could be pulled back sooner
than expected has prompted traders to rethink bets that were
built around that support.
"The market had some pretty strong trends in place, and to
the extent that the Fed might interrupt some of those trends is
causing a lot of consternation," said Cam Albright, director of
asset allocation at Wilmington Trust Investment Advisors in
Attention is now focused on the Fed's policy-setting meeting
next week after comments from Chairman Ben Bernanke last month
raised concerns the Fed could cool its stimulus efforts in the
"What we're not sure about is whether Bernanke was sending
up a bit of a trial balloon or if he's really serious that they
think they're going to make a policy move some time this year,"
Economic data released Friday did little to provide equity
markets with direction; producer prices rose more than expected
in May, but industrial output was flat. Consumer sentiment
slipped in the first half of June.
The Dow Jones industrial average added 22.89 points,
or 0.15 percent, to 15,198.97. The Standard & Poor's 500 Index
edged up 3.74 points, or 0.23 percent, at 1,640.10. The
Nasdaq Composite Index was off 0.20 points, or 0.01
percent, to 3,445.17.
U.S.-listed shares of Elan jumped 8.6
percent to $13.70 after the Irish drug company said it would be
put up for sale.
Smith & Wesson Holding Corp's shares rose after the
gun maker raised its outlook for the fourth quarter. The stock
was up 5.6 percent at $9.82.
Groupon shot up 13.4 percent at $7.78 after
Deutsche Bank raised its rating to "buy" from "hold", according