U.S. stocks waver, on track for best week this year

NEW YORK - U.S. stocks were little changed on Friday, as investors considered monetary policy moves by the Federal Reserve and quarterly earnings, which included disappointing numbers from Alcoa (AA).

At 1:47 p.m. ET, the Dow Jones Industrial Average (DJI) held steady at 17,050, with Apple (APPL) pacing blue-chip gains that extended to 13 of 30 components. The S&P 500 (SPX) fell 2 points, or 0.2 percent, to 2,011. The Nasdaq Composite (COMP) rose 11 points, or 0.2 percent, to 4,822.

The industrial sector led gains on the S&P 500, with the sector bolstered by airline stocks lifted by robust forecasts from United Continental and American Airlines.

Minutes from the Federal Reserve's September meeting showed the central bank reluctant to hike interest rates amid concern a slowdown in the global economy could curb growth in the U.S.

New York Fed President William Dudley told CNBC that the Fed might increase rates this year, although he reiterated the Fed's mantra that the decision would depend on economic data.

In prepared remarks Friday, Atlanta Fed President Dennis Lockhart said the first rate increase since 2006 would likely make sense this month or in December, given the economy is on a "satisfactory" course.