U.S. stock indexes closed in the green Friday

Feb. 14, 2014 at 6:31 PM
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NEW YORK, Feb. 14 (UPI) -- U.S. stock indexes closed higher Friday, despite economic reports indicating the U.S. economy began the year more sluggish than expected.

The Dow Jones industrial average picked up 126.80 points, 0.79 percent, to close at 16,154.39, its sixth gain in the past seven sessions.

The Standard & Poor's 500 added 8.80 points, 0.48 percent, to close at 1,838.63.

The Nasdaq composite index rose to 4,244.03 points, 0.08 percent, a gain of 3.35 points.

Two reports issued Friday indicated the price of U.S. imports rose while industrial production slipped.

Economic data indicated a soft jobs market, manufacturing sector and consumer spending, but many investors have dismissed the information as at least somewhat affected by bad weather.

"The weather is muddying up the ability to analyze the true strength of the economy," Dan Veru, chief investment officer at Palisade Capital Management, told the Wall Street Journal. "Weather is the definition of a temporary event."

On the New York Stock Exchange, 1.99 billion stocks advanced and 1.06 bill declined on a volume of 3.1 billion shares traded.

In Japan, the Nikkei 225 index shed 221.71 points, 1.53 percent, to 14,313.03.

London's FTSE 100 added 4.20 points, 0.06 percent, to reach 6,663.62.

The 10-year U.S. treasury was yielding 2.749 percent.

The euro traded at $1.3692 against the dollar. Against the yen, the dollar was trading at 101.83 yen.

Gold gained $18.50 to $1,318.60 an ounce on the Comex division of the New York Mercantile Exchange. Silver added $1.03 cents to $21.42 an ounce.

Crude oil lost five cents to settle at $100.30 per barrel on the NYMEX.

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