NEW YORK (AP) — Wall Street closed its eighth straight winning week with a quiet finish following reports showing inflation on the way down and the economy potentially on the way up.
The S&P 500 rose 0.2% Friday to sit less than 1% below its record. The Dow slipped less than 0.1%, and the Nasdaq composite edged 0.2% higher.
Bristol-Myers Squibb helped lift the market after agreeing to buy Karuna Therapeutics. That helped offset a slump for Nike, which cut its revenue forecast and dragged on the Dow.
Treasury yields were little changed following reports showing cooler-than-expected inflation and stronger spending by U.S. consumers.