Stocks rise; Dow has its best week since January
Traders work on the floor of the New York Stock Exchange on Wednesday. The prospects of a U.S. attack on Syria and a decision from the Federal Reserve to scale back stimulus measures have been adding to investor worries recently. (Sept. 11, 2013) Credit: Getty Images
Stocks rose broadly Friday, giving the Dow Jones industrial average its best week since January.
The market got a lift from two economic reports, one showing that inflation remained tame in August and the other showing that Americans spent a bit more at stores last month.
The Dow rose 75.42 points to 15,376.06. The index closed up 3 percent for the week, its best five-day performance since the week ending Jan. 4.
Intel led the Dow higher. Analysts at Jefferies & Co. said Intel may be able to increase its sales with power-efficient chips. Intel rose 81 cents, or 3.58 percent, to $23.44.
The Standard & Poor's 500 index rose 0.27 percent to 1,687.99. The Nasdaq composite index rose 0.17 percent to 3,722.18.
Trading was light.
Investors were looking ahead to the Federal Reserve's policy meeting on Sept. 17-18, when the central bank is expected to decide the future of its bond-buying program.
"There's a lot of 'wait and see' going on until the Fed meeting next week," said Frank Davis, director of sales and trading at LEK Securities.
-- AP
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