US STOCKS-Chip shares rise, market ends flat for week

* China raises banks' reserve requirements

* Dell, Marvell rally after results

* Dow up 0.2 pct, S&P up 0.3 pct, Nasdaq up 0.2 pct

* For up-to-the-minute market news see [STXNEWS/US]

By Leah Schnurr

NEW YORK, Nov 19 - Semiconductor shares rallied on Friday as robust revenue from Marvell Technologies buoyed the sector, but the market ended flat for the week as investors backed away from a strong autumn advance.

The major stock indexes finished little changed on Friday after China's central bank raised bank reserve requirements for the second time in two weeks, stepping up its fight to rein in prices in a move that could temper growth. For details, see [ID:nTOE6AI071]

The S&P 500 was just below 1,200, an important psychological level, and analysts said if it fails to break above that mark convincingly, the index could trade in a tight range for the rest of the year.

Volume was light as strength in the materials and tech shares offset earlier selling. On the Nasdaq, Marvell Technologies Group Ltd rallied 6.1 percent to $20.09 after its revenue topped expectations. [ID:nSGE6AH003]

"A lot of the semis do well in an inflationary environment and we have been seeing more and more of our customers trying to set up for impending inflation," said Dave Lutz, managing director at Stifel Nicolaus in Baltimore. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

For Special Report-A far from random walk from Wall Street, click [ID:nN12290800]; for a multimedia PDF version, see http://link.reuters.com/rab36q

For a GM BUY OR SELL story, see [ID:nN18142191] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

William Delwiche, an investment strategist at Robert W. Baird & Co in Nashville, said overall sentiment indicators have grown too bullish.

He sees the market in a pullback or trading range "until we get the optimism worked off and some pessimism built up. At that point that could clear the way for the typical year-end rally supported by favorable Fed policy, strong seasonal trends, and strong breadth underlying the market."

The Dow Jones industrial average <.DJI> added 22.32 points, or 0.20 percent, to 11,203.55. The Standard & Poor's 500 Index <.SPX> edged up 3.04 points, or 0.25 percent, at 1,199.73. The Nasdaq Composite Index <.IXIC> put on 3.72 points, or 0.15 percent, to 2,518.12.

After a nearly 13 percent run-up in September and October, the S&P 500 has slipped 2.1 percent in the last two weeks on concerns of tightening in China and debt woes in Europe. A financial aid plan to help Ireland cope with its battered banks will be unveiled next week, EU sources said on Friday. [ID:nLDE6AI0QG]

For the week, indexes were flat with the S&P inching up 0.04 percent, the Dow adding 0.1 percent, and the Nasdaq off 0.004 percent.

In a potentially positive sign, the S&P managed to break above its 20-day moving average after slipping below it earlier in the week.

Marvell helped boost the rest of the semiconductor sector, including SanDisk , which rose 3.9 percent to $39.98. The semiconductor index <.SOX> gained 1.6 percent.

Also on the Nasdaq, Dell Inc rose 1.7 percent to $13.90 after it raised its profit outlook. [ID:nN18114219]

General Motors Co eased 0.2 percent to $34.26 one day after its record-setting initial public offering. Separately, Harrah's Entertainment terminated its own IPO, citing market conditions. [ID:nSGE6AI0HF]

About 6.86 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's estimated daily average of 9.65 billion.

Advancing stocks outnumbered declining ones on the NYSE by 1,754 to 1,226, while on the Nasdaq, advancers beat decliners 1,461 to 1,179 . (Reporting by Leah Schnurr; Additional reporting by Edward Krudy; Editing by Kenneth Barry)