New York, July 30^th (TradersHuddle.com) – Stocks finished flat for the session, after a report that showed better than expected consumer confidence helped the market stage a bounce from losses stem from a weaker than expected GDP report by the Commerce Department. Economic uncertainty helped pushed Treasury yields to record lows.

The market started under pressure after data showed the U.S. economy expanded at an annualized rate of 2.4% in the second quarter, which was below the 2.5% that had been widely expected and down from the first quarter's upwardly revised 3.7% growth rate. Additionally, personal consumption for the second quarter increased 1.6%.

Market participants mostly shrugged off upside earnings surprises by Dow components, Chevron (NYSE:CVX), the U.S. second largest producer, and Merck (NYSE:MRK), the pharmaceutical company maker of Zocor, as they focused on economic data.

The economic data raised concern about economic growth and the prospects of further weakness, as unemployment will likely cut into future growth rates. Stocks lost close to a 1% in the early going, but a better-than-expected Chicago PMI figure, which came in at 62.3, and the final July Consumer Sentiment Survey, which was stronger-than-expected at 67.8 helped the market staged a come back.

However stocks met resistance at the neutral line and finished practically flat for the session, with the benchmark indices finishing mixed for the week and the broad market index posting its best monthly gain since last year.

Consumer discretionary, materials, and healthcare were the best performing sectors. Stocks in consumer discretionary gained 0.7% as a group, after personal consumption in the second quarter increased. Home Depot (NYSE:HD), the largest home improvement retailer, helping lead the sector and posting the biggest percentage gain in the Dow Jones Industrial Average, as shares jumped 1.64% to $28.51.

In currency news, the euro the euro pulled back from the two-month high, as it finished the session 0.3% lower, but still booked a 6.5% gain for July, making it the first monthly advance in eight months. Meanwhile, the Japanese yen climbed 0.4% to hit a fresh eight-month high.

Material stocks climbed in the session, as they posted 0.5% gain for the session. Alcoa (NYSE:AA), the aluminum producer, was the third best Dow component as shares gained 1.6% to $11.17.

Despite Natural gas jumping 2% in the session, and crude oil prices climbing 0.9%, above the $79 per barrel level, energy stocks lost 0.3%.

Shares of Verizon (NYSE:VZ), the owner and operator of the largest U.S. wireless network, gained 0.62% to $29.06, posting the fourth biggest percentage gain in the blue chip index, reports that a new tablet computer from Research In Motion (NASDAQ:RIMM) will hit the market in November, signaled investors that data plans revenues will likely continue to climb.

Boeing (NYSE:BA), the second largest commercial aircraft maker in the world and Caterpillar (NYSE:CAT), the world’s largest earthmoving equipment maker, were the second and fifth best Dow components respectively, helping the industrial sector to post a 0.2% gain.

Meanwhile, Treasuries climbed, pushing two-year note yields to the lowest ever, as GDP slowed spurring demand for the world’s safest securities. The yield on the benchmark 10-year note fell to 2.91%.