Investing.com - U.S. stocks ended the week little changed on Friday, with the S&P 500 narrowly making its seventh consecutive weekly gain as mixed U.S. data indicated that the economic recovery remains uneven.
The Dow Jones industrial average edged up 0.01% on Friday, but this was not enough to avoid ending the week 0.1% lower. The S&P 500 inched up 0.01% on Friday, to end the week 0.3% higher, while the Nasdaq declined 0.2% on Friday and 0.1% on the week.
The New York Federal Reserve reported manufacturing in New York state expanded in February, while a survey showed a surprisingly strong rise in U.S. consumer sentiment.
The Empire State manufacturing index rebounded to 10.0 in February, from minus 7.8 in January, outstripping expectations for a reading of minus 2.
The University of Michigan said its index of consumer confidence rose to 76.3 from 73.8 in January, better than expectations for a reading of 74.8.
However, a separate report showed that industrial production in the U.S. slipped 0.1% in December after a revised 0.4% gain in December. Economists had been expecting an uptick of 0.2%.
In Europe, concerns over the region’s economy saw the benchmark Stoxx Europe 600 fall 0.2% on Friday to end the week unchanged.
Data on Friday showed that euro zone imports and exports fell sharply in December and over the fourth quarter, one day after official data showed that the bloc’s economy contracted 0.6% in the three months to December.
The FTSE100 closed up 0.9% on Friday and 1% higher on the week, as robust U.S. manufacturing data offset a report showing that U.K. retail sales dropped 0.6% in February, the largest monthly decline in nine months.
In Asia, Japan's Nikkei Stock Average fell 1.2% amid fears that the Group of 20 nations would single Japan out for criticism over the recent weakness of its currency. Australia's S&P/ASX 200 slipped 0.1% on Friday but ended the week 1.3% higher. Meanwhile, markets in Shanghai remained closed for the Lunar New Year holiday.
The Dow Jones industrial average edged up 0.01% on Friday, but this was not enough to avoid ending the week 0.1% lower. The S&P 500 inched up 0.01% on Friday, to end the week 0.3% higher, while the Nasdaq declined 0.2% on Friday and 0.1% on the week.
The New York Federal Reserve reported manufacturing in New York state expanded in February, while a survey showed a surprisingly strong rise in U.S. consumer sentiment.
The Empire State manufacturing index rebounded to 10.0 in February, from minus 7.8 in January, outstripping expectations for a reading of minus 2.
The University of Michigan said its index of consumer confidence rose to 76.3 from 73.8 in January, better than expectations for a reading of 74.8.
However, a separate report showed that industrial production in the U.S. slipped 0.1% in December after a revised 0.4% gain in December. Economists had been expecting an uptick of 0.2%.
In Europe, concerns over the region’s economy saw the benchmark Stoxx Europe 600 fall 0.2% on Friday to end the week unchanged.
Data on Friday showed that euro zone imports and exports fell sharply in December and over the fourth quarter, one day after official data showed that the bloc’s economy contracted 0.6% in the three months to December.
The FTSE100 closed up 0.9% on Friday and 1% higher on the week, as robust U.S. manufacturing data offset a report showing that U.K. retail sales dropped 0.6% in February, the largest monthly decline in nine months.
In Asia, Japan's Nikkei Stock Average fell 1.2% amid fears that the Group of 20 nations would single Japan out for criticism over the recent weakness of its currency. Australia's S&P/ASX 200 slipped 0.1% on Friday but ended the week 1.3% higher. Meanwhile, markets in Shanghai remained closed for the Lunar New Year holiday.