Wall Street's major stock indexes edged higher on Friday after falling in t...
NEW YORK - Wall Street’s major stock indexes edged higher on Friday after falling in the previous session, as hopeful comments from U.S. President Donald Trump regarding trade relations with China assuaged concerns among some investors.
“There are some small positive stories here and there,” said John Carey, managing director and portfolio manager at Amundi Pioneer Asset Management in Boston. “With light trading volume, it doesn’t take too much to get things moving.” Adding to concerns about a slowing broader economy, data showed that new orders for U.S.-made capital goods fell more than expected in April.
For the week, the Dow declined 0.68%, the S&P 500 fell 1.16% and the Nasdaq dropped 2.29%. The Dow slid for the fifth straight week, its longest such losing streak in eight years, while the S&P 500 and Nasdaq each registered their first three-week declines of the year. Foot Locker Inc shares plunged 16.0%, the most among S&P 500 companies, after the footwear retailer missed quarterly profit and same-store sales estimates.
Traders work on the floor at the New York Stock Exchange in New York, U.S., May 23, 2019. REUTERS/Brendan McDermid
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