Wall Street flat as rise in oil offsets impact of weak data

Wall Street was little changed on Friday as a rise in oil prices offset the impact of weak economic data. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not raise interest rates anytime soon despite a robust labor market. "While I wouldn't read too much into any one data point, the data underscores that the Fed doesn't need to be aggressive about raising interest rates," said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas.