NEW YORK — Wall Street ended an erratic session narrowly mixed today, largely shrugging off a lackluster sales report from Wal-Mart Stores Inc. and news of weak consumer spending last month.

The market's ability to withstand bad news — especially from Wal-Mart, seen by many traders as a barometer of consumer sentiment — illustrates the confidence many investors seem to have in the overall direction of the economy and Wall Street itself. Still, it was clear that investors were somewhat tentative after Friday's weaker-than-expected reading of the gross domestic product, the broadest measure of the economy.

Adding to concerns today was the Commerce Department report that consumer spending rose an anemic 0.1 percent in September, the smallest increase in 10 months. Personal income, however, was up 0.5 percent.

"Personal spending was less than expected but then personal income was better than expected," said Stuart Freeman, chief equity strategist for A.G. Edwards & Sons. He said investors will grapple with sometimes negative and seemingly contradictory economic data as they try to determine whether the economy will pull off a soft landing after the Federal Reserve's 17 straight interest rate increases that ended in July.

According to preliminary calculations, the Dow Jones industrial average fell 3.76, or 0.03 percent, to 12,086.50 after changing course several times.

Broader stock indicators rose. The Standard & Poor's 500 index was up 0.59, or 0.04 percent, at 1,377.93, and the Nasdaq composite index was up 13.15, or 0.56 percent, at 2,363.77.

Bonds rose, with the yield on the benchmark 10-year Treasury falling to 4.67 percent from 4.68 percent late Friday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude settled down $2.39 at $58.36 a barrel on the New York Mercantile Exchange amid renewed doubts about whether OPEC would push through production cuts. Oil prices showed gains last week, and at times pushed down stock prices, after traders grew more confident that production cuts would take hold.

The markets appeared to dismiss comments today from Richmond Federal Reserve President Jeffrey Lacker, who said he was concerned about inflation. Arthur Hogan, chief market analyst at Jefferies & Co., said Lacker's remarks reiterated previous statements and weren't surprising given the role he has played as lone dissenter in recent decisions by the Fed.

Hogan said asset managers are likely to continue to plow money back into the stock market as they work to meet their year-end return projections.

"That really becomes a self-fulfilling prophecy," he said, referring to an overall rise in the markets through the end of the year. Still, he believes the market is ripe for periodic profit-taking; stocks have had an unusually strong October, with the Dow setting new closing highs in 13 out of 19 sessions.

Hogan contends that the rise in personal income last month bodes well for the coming holiday season and doesn't see Wal-Mart's sales results as a sign that retailers over all will see a disappointing holiday period.

Wal-Mart fell $1.20, or 2.4 percent, to $49.53 after reporting same-store sales, or sales at stores open at least a year, rose 0.5 percent in October, the smallest increase in nearly six years. The world's largest retailer had forecast sales would increase 2 percent to 4 percent.

Given Wal-Mart's size and reach and the fact that two-thirds of economic growth is driven by consumers, a weak sales report for the discounter tends to make investors uneasy.

Earnings news continued today, with Verizon Communications Inc. reporting a stronger-than-expected third-quarter profit amid robust results from Verizon Wireless. However, Verizon fell $1.19, or 3.1 percent, to $37.65 amid concern about weakness in its wired operations.

Goodyear Tire & Rubber Co. advanced 22 cents to $15.18 after announcing plans to close a plant in Texas; workers went on strike three weeks ago to protest plans to shut the plant. Trustreet Properties Inc., jumped $4.46, or 35.7 percent, to $16.97 after GE Capital Solutions, a division of General Electric Co., agreed to acquire the real-estate investment trust in a deal valued at $3 billion.

BE Aerospace Inc., which makes airplane interiors, rose $1.05, or 4.2 percent, to $26.11 after its third-quarter profit more than tripled amid increased demand and a tax benefit.

Advancing issues outnumbered decliners by about 6 to 5 on the New York Stock Exchange, where volume came to 1.43 billion compared with about 1.55 billion Friday.

The Russell 2000 index of smaller companies was up 4.52, or 0.59 percent, at 770.36.