Reuters S and P, Nasdaq gain on Microsoft; stocks slip for week

NEW YORK (Reuters) - The S&P 500 and Nasdaq rose on Friday as positive broker comments on Microsoft boosted technology shares, but the major averages lost ground for the week for the first time in five weeks.

After a sharp three-month rally, indexes eased this week as investors increasingly questioned if stocks are due for a correction. Worries that the economic recovery could be tepid have dented optimism that has driven the S&P 500 up as much as 40 percent from March's 12-year low.

"We've had the survival bounce and the end of the month-after-month declines in economic data," said Bucky Hellwig, senior vice president at Morgan Asset Management, in Birmingham, Alabama.

The Dow Jones industrial average .DJI fell 15.87 points, or 0.19 percent, to 8,539.73. But the Standard & Poor's 500 Index .SPX added 2.86 points, or 0.31 percent, to 921.23. And the Nasdaq Composite Index .IXIC rose 19.75 points, or 1.09 percent, to 1,827.47.

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