Wall Street was higher by the middle of Wednesday’s session despite bad news from selected sectors. The Dow Jones Industrial Average was 0.2 percent higher to 11,521.22, while the Nasdaq Composite added 0.5 percent to 2,226.05 and the S&P 500 gained 0.3 percent to 1,316.45.

Some of the bad news came from Hewlett Packard, which dropped 1.9 percent to $36.22 after the California Attorney General said that there was evidence that could lead to charges against company officials in connection with leaks by board members to the media.

In the pharmaceuticals sector, Merck fell 2.4 percent to $41.15 after its Vioxx drug was linked to kidney and heart problems in two reports which were published in the Journal of the American Medical Association.

News was better elsewhere. Gap, the clothing retailer, added 2.3 percent to $17.48 on an upgrade from “equal weight” to “overweight” from Lehman Brothers. AMR, the parent company of American Airways, gained 2.6 percent to $22.78 on an upgrade from “neutral” to “buy” from Merrill Lynch.

The transport sector saw advances based on the news that spot-freight rates for grain are as high as they have been all year. CSX was 3.6 percent higher to #31.94, while Expeditors International gained 6.7 percent to $46.07.

Equities markets in New York were lower at midday on Tuesday as newly released data on personal consumption and manufacturing re-ignited fears that the Federal Reserve will issue another interest rate hike when it meets next week. The Dow Jones Industrial Average was 0.6 percent lower at mid-session, to 11,114.12. The S&P 500 had also dropped 0.6 percent, to 1,268.92, while the Nasdaq Composite was down by 1.3 percent to 2,063.52.

Some of the declines in individuals stocks were substantial. Shipper Expeditors International fell 12.6 percent to $39.75 even though second quarter profits were up 53 percent. The increase in profits was lower than had been predicted by analysts. Eastman Kodak dropped 11.3 percent to $19.74 on its seventh losing quarterly report in a row. Kodak’s revenues were down by 9 percent on slow sales of photographic film. Whole Foods declined by 11.1 percent to $51.11 even though the natural foods retailer saw its third quarter profits grow by 33 percent, well ahead of expectations.

With its quarterly report due out later in the day, Starbucks dropped 4.5 percent to $32.68, its lowest share price in six months. Molson Coors also declined even though its results in the quarter were better than had been expected. The brewer lost 6.1 percent to $67.06.

In the telecommunications sector, on the other hand, Qwest reported that it achieved profits in its second quarter after losing $164 million in the second quarter last year. Qwest added 5.8 percent to $8.24.

A falling transportation sector led the New York equities markets lower by midday on Tuesday. The Dow Jones Industrial Average fell 0.3 percent to 11,018.64, while the Nasdaq Composite and the S&P 500 each had dropped by 0.2 percent, to 2,058.46 and 1,258.22 respectively.

United Parcel Service fell 14.5 percent to $68.44, its worst ever one-day performance. The decline came after its quarterly report did not meet expectations and it said that full-year earnings would only reach the low end of what has been forecast. The problems of Ups dragged the rest of the sector down as well. Federal Express dropped 2.7 percent to $107.50, while Burlington Northern Santa Fe declined by 4.5 percent to $66.67 and Expeditors International was 4.8 percent lower to $46.

The telecommunications sector, on the other hand, was up after AT&T said that its second quarter earnings were up by 81 percent. AT&T gained 4.4 percent to $28.99, while BellSouth added 4.8 percent to $37.95. BellSouth is scheduled to be purchased by AT&T later in the year.

In the technology sector, Sandisk added 14.8 percent to $37.95 after it reported that strong sales of memory cards for mobile phones sent profits up 36 percent in the quarter. Meanwhile, Texas Instruments reported that its earnings were up by 27 percent in the quarter, sending its shares 4.3 percent higher to $29.03.

BJ Services added 5.5 percent to $32.76 on third-quarter profits that were up by 86 percent.

At midday on Friday the New York equities markets were seeing gains for both the day and week on help from several sectors as well as from some positive economic news. The Dow Jones Industrial Average was up 1 percent on the day and 1.6 percent on the week to 11,551.96, a six-year high. The Nasdaq Composite was at 2,333.58, a gain of 0.4 percent on the day and 0.5 percent for the week and the S&P 500 had added 0.4 percent for the day and 0.6 percent over the week to sit at 1,318.03 at mid-session.

In the steel sector, US Steel added 10.4 percent to $75.60 over the week, while Nucor was up 8.2 percent during the week to $117.74 on an upgrade from Merrill Lynch.

Among miners, Phelps Dodge was up 8.1 percent this week $93.14 on record copper prices and an upgrade from Bear Stearns. The copper miner has added over 40 percent since March. On the negative side, Coeur dAlene, owner of mines in Boliva, dropped 9.7 percent during the week to $6.30.

Stock exchanges were mixed this week as speculation was that the New York Stock Exchange would best Nasdaq for control of the London Stock Exchange. The NYSE added 7 percent on Friday and was up 1.6 percent during the week to $67.48, while Nasdaq lost 1.5 percent this week to $36.87.

The transportation sector had a good week, with Expeditors International up 19.1 percent on the week to $104.70. Rail-freight shippers had a good week on higher imports from China and the ability to charge more for their services. CSX was up 8 percent this week to $74.06, while Burlington Northern Santa Fe added 5.6 percent to $83.95.

In New York on Thursday, equities markets were up mid-way through the trading day as several retailers issued good quarterly earnings reports. These reports overcame worries over new data releases that tended to increase the likelihood of further interest rate hikes to offset pressures toward inflation.

At midday the Dow Jones Industrial Average had gained 0.4 percent to 11,450.71, the Nasdaq Composite was up 0.8 percent to 2322.16, and the S&P 500 had added 0.4 percent to 1,312.85.

Earnings reports from the retail sector were led by Whole Foods, a supermarket chain that specializes in organic foods, which saw a 27 percent hike in profits in the quarter, ahead of predictions, and an increased sales outlook for the year. Shares in Whole Foods were up by 11.7 percent to $69.42. Other retailers with good reports included Talbots, which added 8.37 percent to $25.50, and Abercrombie and Fitch, up 2.3 percent to $61.75.

In the transport sector, Expeditors International gained 18.4 percent to $104.18 after it raised its divident by over 40 percent and said that its earnings per share were 20 percent above what had been forecast. Federal Express also saw a gain, adding 2.6 percent to $117.13. These helped the Dow Jones Transportation index, which was up 3.4 percent so far during the session and has added 17 percent so far this year.

Apple Computer has now gained back half of the 31 percent in share price that it lost in the first quarter of the year and was up 1.4 percent so far in the session to $72.15.

Among the days losers, Archer Daniels Midland dropped 5.3 percent to $41.01 on a downgrade to “neutral” on sustainability concerns. Before the loss the company, which makes ethanol among other activities, had added 21 percent since last week and 77 on the year so far.