Stock Market Opens Higher As Wall Street Looks To Wrap Volatile Week In The Green

By Mark DeCambre Markets MarketWatch Pulse

U.S. stocks on Friday climbed and a selloff in bonds subsided somewhat, as a report on inflation and spending came in weaker than expected. The Dow Jones Industrial Average rose 0.5% at 21,371, the S&P 500 index gained 0.4% at 2,429, while the Nasdaq Composite Index climbed 0.3% at 6,165. Friday's moves follow a downdraft for equities in the previous session, underpinned by selling in technology shares , more than offsetting gains in the financial sector . Among corporate news, shares of Nike Inc. climbed and was buoying the Dow, after the sportswear giant late Thursday posted better-than-expected quarterly profit and sales. Meanwhile, government bond-yields looked to stabilize in early trade after spiking throughout the week on investor fears that global central bankers would put an end to easy-money policies, which have supported bond prices and pushed yields to record lows. The 10-year Treasury note was at 2.27% in recent trade. Prices move inversely to yields. On the data front, a consumer report early Friday showed the Federal Reserve's preferred inflation gauge, the price index for personal-consumption expenditures, fell 0.1% in May from the prior month while personal consumption expenditures increased a seasonally adjusted 0.1% in May from the prior month, the Commerce Department said. Friday's action caps a bumpy week for equities and closes out the month, quarter and first half of 2017.

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