Stocks turned higher on Friday, cutting weekly losses for the Dow, with Nike helping bolster the blue-chip index after reporting better-than-expected quarterly results. Equities shifted into positive terrain in the final 30 minutes of trade after spending most of the session under water. The Dow Jones Industrial Average closed unofficially 5 points higher, the S&P 500 gained 3 points and the Nasdaq added 18 points. Investors were little moved by a report that had consumer sentiment climbing in June, with the Thomson Reuters/University of Michigan's index on consumer sentiment rising to 82.5, up from 81.9 in May. The confidence report comes a day after weaker-than-expected consumer spending prompted economists to cut their growth forecasts for the second quarter.
Sign up for top Business news direct to your inbox.
IN DEPTH
- World Cup U.S. Match a 'Total Distraction' for Floor Traders
- Minimum Wage: Ikea Raises Hourly Pay, Pressures Other Big Brands
- Weekly Jobless Claims Fall, Points to Strengthening Labor Market
- Kate Gibson, CNBC.com
