NEW YORK (CNN/Money) - News that gross domestic product grew at a faster-than-expected pace in the fourth quarter soothed investors but had little impact on U.S. stocks early Friday, with market participants still edgy that stocks have run too far too fast.

After five minutes of trading, the Dow Jones industrial average (up 21.93 to 10602.07, Charts), the Standard & Poor's 500 (up 1.42 to 1146.33, Charts) index and the Nasdaq composite (up 2.03 to 2034.60, Charts) all traded a few points above breakeven.

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Gross domestic product growth was upwardly revised, showing that the economy grew at a 4.1 percent annualized rate in the fourth-quarter, compared with an initial 4.0 percent reading. Economists surveyed by Briefing.com were expecting GDP to have slowed to a 3.8 percent annualized rate in the quarter. In the third quarter, GDP grew at an 8.2 percent pace.

The news was welcome to investors concerned that recent economic reports have not been bullish enough to justify the stock market rally.

Two more economic reports are due after the start of trading.

The final reading of the University of Michigan's consumer sentiment index for February is expected to be revised up to 94.0 from an initial read of 93.1 and down from a revised 103.8 read in January, according to Briefing.com estimates.

The Chicago purchasing managers index, which looks at manufacturing in the Midwest, is expected to clock in at 63.5 in February, down from 65.9 in January, also according to Briefing.com.

Among the stock movers, clothing retailer Gap (GPS: up $0.22 to $21.30, Research, Estimates) gained after reporting earnings late Thursday of 37 cents per share, in line with estimates and up from a year earlier.

Genentech (DNA: up $5.43 to $108.53, Research, Estimates) continued to gain after announcing just before the close of trade Thursday that it has received regulatory approval to market Avastin, a well-regarded drug used to treat colon cancer.

Treasury bond prices rose, with the 10-year note adding 7/32 of a point, pushing its yield to 4.00 percent from 4.03 percent late Thursday. The dollar gained versus the euro and dipped versus the yen.

Among commodities markets, Brent crude oil futures gained 2 cents to $31.59 a barrel in London. COMEX gold fell $2.20 to $393.30 an ounce.

In international trade, European markets were higher at midday there. Asian markets closed higher.