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Business

Small-company stocks shine on an otherwise ho-hum day

Joseph Lawler, right, works with fellow traders on

Joseph Lawler, right, works with fellow traders on the floor of the NYSE on Sept. 6. Photo Credit: AP / Richard Drew

U.S. stocks hardly moved Friday as the market wrapped up a solid week. Smaller companies rose following signs of sustained economic growth and reports that more tariffs on Chinese goods could be on the way.

Stocks rose in early trading after the Federal Reserve said production of cars and energy jumped in August. The Commerce Department said sales by retailers grew only slightly in August after a big gain in July.

"It's a reflection of stronger economic growth," said Kate Warne, an investment strategist for Edward Jones. "It continues to bode well for strength going into the fall and later in the year.

Warne said she expects the U.S. economy to grow about 3 percent this year, which is what most experts are forecasting. She said growth will be a bit weaker in 2019, but that would still be better than most of the previous years since 2009.


 


 

The S&P 500 index rose 0.80 points to 2,904.98. The index rose all five days this week after a four-day losing streak last week.

The Dow Jones Industrial Average added 8.68 points to 26,154.67. The Nasdaq composite slipped 3.67 points to 8,010.04.

The combination of trade worries and positive economic news helped smaller companies, which do more business in the U.S. than larger companies do. That makes them less vulnerable to flare-ups in trade tensions. The Russell 2000 index gained 7.40 points, or 0.4 percent, to 1,721.72. -- AP

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