Wall Street coasts to the finish line of another winning week

U.S. stocks coasted to the close of another winning week Friday. The Standard & Poor's 500 index rose 8.60 points, or 0.2%, to 5,222.68 to finish a third straight winning week after its mostly miserable April. It had been on pace for a bigger gain in the morning, but that mostly disappeared following a discouraging report on U.S. consumer sentiment. The Dow Jones industrial average gained 125.08 points, or 0.3%, to 39,512.84, and the Nasdaq composite edged down by 5.

consumers is weakening by much more than economists expected, and the drop was large enough to be “statistically significant and brings sentiment to its lowest reading in about six months,” said Joanne Hsu, director of the survey of consumers. Potentially even more discouraging is that U.S. consumers were forecasting inflation of 3.5% in the upcoming year, up from their forecast of 3.2% a month earlier.

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