USA stock benchmarks finished in the green on Friday, posting sharp weekly gains, with a big assist from rallying telecommunication and bank shares as Wall Street shook off North Korea's latest missile launch.
The Dow.DJI rose 0.2 percent to end at 22,203.48 points, while the S&P 500.SPX lost 0.11 percent to 2,495.62. The S&P 500 closed at 2,500.23 for a gain of 4.61 points or 0.18%.
United States retail sales unexpectedly fell last month, the Commerce Department said, while another report showed industrial output in August notched its first decline since January. As geopolitical fears subsided, investors shifted focus back to fundamentals, where economic growth remains stable and corporate earnings are expected to increase every year through at least 2019.
Eight of the 11 major S&P sectors were higher on the day, led by the telecom services sector's 0.45 per cent rise. SPDR Dow Jones Industrial Average ETF accounts for about 8.4% of GenWealth Group Inc.'s holdings, making the stock its 3rd biggest position.
Yields on longer-dated U.S. Treasury maturities briefly added to earlier declines after the weak data revived some concerns about slower economic growth in the third quarter and the possibility of a Fed rate hike.
There was mixed news from the manufacturing sector, as total industrial activity plunged 0.9% percent in August, versus expectations of a 0.1% decline.
Apple added 1 percent Friday, while Boeing moved up 1.5 percent.
The Bloomberg Dollar Spot Index fell 0.2 percent.The euro climbed 0.2 percent to $1.1941.The British pound gained 1.3 percent to $1.3568, the strongest in nearly 15 months.
USA gold futures fell 0.16 percent to $1,327.20 an ounce. The institutional investor acquired 58,758 shares of the company's stock, valued at approximately $12,529,000. The benchmark 10-year yield started the week near 2.09%; it traded around 2.19% Friday.
The pound surged to $1.3571 from $1.3398, its highest since mid-2016. It later settled at $49.95 a barrel for a gain of 0.1%.
Wholesale gasoline rose 3 cents to $1.66 a gallon.
CURRENCIES: The dollar slid to 110.19 yen from 110.26 yen.
Japan's benchmark Nikkei 225 index edged up 0.1 percent to 19,835.30 but South Korea's Kospi lost 0.4 percent to 2,369.32. The S&P 500 grabbed a 0.2% gain and small caps outpaced slightly the overall action, leaving the Russell 2000 ahead 0.4%. The euro rose to $1.1881 from $1.1873.
Britain's FTSE 100 fell 0.9 percent while the French CAC 40 rose 0.1 percent and Germany's DAX fell 0.2 percent.