S&P 500, Dow, Nasdaq look set for weekly gains

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Breaking

Dow aims for longest win streak in 6 months, powered by Home Depot, J&J stocks, in early trade

The Dow Jones Industrial Average climbed Friday, with the blue-chip gauge on track for its longest win streak in about six months, highlighting a tentative return of optimism in the buying mood on Wall Street. Some investors have attributed recent gains to the pullback in the U.S. dollar, as measured by the ICE U.S. Dollar Index , and the muted action in government bonds yields, underlined by the 10-year Treasury note yield holding below a key psychological level at 3%. The Dow rose 62 points, or 0.3%, to 24,797, putting it on track to book a seventh straight gain matching a similar streak ended Nov. 8. Those gains were propelled partly by advances in shares of Home Depot Inc. and Johnson & Johnson . Meanwhile, the S&P 500 index rose 0.1% to 2,725, while the technology-centered Nasdaq Composite Index retreated by 0.1% to 7,397. For the week, the Dow and S&P 500 and the Nasdaq are on pace to rise by more than 2%, with the S&P and Dow halting a skid of declines in a row. In economic reports, a reading of trade, showed, the import-price index, rose 0.3% in April because of the higher cost of oil, softer than the 0.5% gain expected by economists surveyed by Econoday. Excluding fuel, import prices rose 0.2% last month. U.S. crude-oil prices rose to the highest level since November 2014 above $71 a barrel partly fueled by President Donald Trump’s decision to exit from the multilateral Iran nuclear pact, which is viewed as supportive to crude prices climbing.

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