U.S. stocks end up on consumer sentiment data; Dow up 0.19%

Forexpros – U.S. stock prices rose on Friday after consumer sentiment figures beat expectations.

At the close of U.S. trading, the Dow Jones Industrial Average ended up 0.19%, the S&P 500 index was up 0.19% while the Nasdaq Composite index was up 0.46%.

It was the sixth straight week of gains for the Dow and the S&P 500.

The Thomson Reuters/University of Michigan preliminary consumer sentiment index for August hit its highest level since May at 73.6, up from 72.3 last month, outpacing economists’ forecasts for a 72.4 reading.

Meanwhile, the Conference Board reported that its leading index rose 0.4% in July, up from a 0.4% drop in June.

Analysts were predicting the index to rise by 0.2%.

The data came in wake of other indicators that pointed to an improving U.S. economy.

U.S. industrial production outpaced expectations in July, climbing 0.6%, above forecasts for a 0.5% increase.

Retail sales in the U.S. jumped 0.8% in July after a 0.7% drop in June, shooting way past market expectations for a 0.3% increase.

Apple shares, meanwhile, rose to an all-time high of USD648.11 a share after Jefferies hiked its price target on the stock to USD900 from USD800 a share and reiterated a buy rating.

Leading Dow Jones Industrial Average gainers included United Technologies, up 2.03%, Travelers Companies, up 1.70%, and Caterpillar, up 1.60%.

The Dow Jones Industrial Average’s worst performers  included Merck, down 1.37%, Intel, down 1.02%, and Pfizer, down 0.92%.

European indices, meanwhile, finished up.

After the close of European trade, the EURO STOXX 50 rose 0.61%, France’s CAC 40 rose 0.23%, while Germany’s DAX 30 finished up 0.64%. Meanwhile, in the U.K. the FTSE 100 rose 0.31%.

Source: http://www.forexpros.com/news/stock-market-news/u.s.-stocks-end-up-on-consumer-sentiment-data;-dow-up-0.19-237274