US STOCKS-Wall St opens flat as oil offsets housing data

(Updates to open)

NEW YORK, May 16 (Reuters) - U.S. stocks opened little changed on Friday after oil prices extended a record-setting streak above $127 a barrel, offsetting optimism sparked by data showing a surprise rise in April housing starts.

The Dow Jones industrial average .DJI slipped 4.07 points, or 0.03 percent, to 12,988.59. The Standard & Poor's 500 Index .SPX inched up 0.90 points, or 0.06 percent, to 1,424.47. The Nasdaq Composite Index .IXIC shed 0.60 points, or 0.02 percent, to 2,533.13. (Reporting by Ellis Mnyandu; Editing by James Dalgleish)