The S&P 500 briefly turned lower on Friday while the Dow pared gains and the Nasdaq hit session lows after Moody's Investor Service placed Italy's credit ratings on review for possible downgrade.

The Dow Jones industrial average <.DJI> was up 31.00 points, or 0.26 percent, at 11,992.51. The Standard & Poor's 500 Index <.SPX> was up 1.95 points, or 0.15 percent, at 1,269.59. The Nasdaq Composite Index <.IXIC> was down 11.50 points, or 0.44 percent, at 2,612.21.

Earlier, the S&P 500 slipped to a session low at 1,267.40.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)