Wall Street opens flat, Obama to speak on 'cliff'

NEW YORK (Reuters) - Wall Street opened flat on Friday, amid caution ahead of a statement from President Obama on the progress of budget talks in Washington that have fueled volatility and nervousness in the financial markets.

The Dow Jones industrial average gained 5.45 points, or 0.04 percent, to 13,027.27. The Standard & Poor's 500 Index dropped 0.51 points, or 0.04 percent, to 1,415.44. The Nasdaq Composite Index gained 0.07 points, or 0.00 percent, to 3,012.10.

(Reporting by Edward Krudy; Editing by Bernadette Baum)