A positive report on U.S. consumer spending helped push stocks mostly higher Friday for the first time in three days.
The gains were modest as investors continued to cut their holdings in biotechnology stocks, some of the best performing names of 2013. Instead, the stocks that advanced the most were mostly mature, large companies such as Microsoft, Exxon and Cisco Systems.
The Dow Jones industrial average rose 58.83 points, or 0.4 percent, to 16,323.06.
The Standard & Poor's 500 index added 8.58 points, or 0.5 percent, to 1,857.62.
The Nasdaq composite rose 4.53 points, or 0.1 percent, to 4,155.76.
For the week:
The Dow was up 20.29 points, or 0.1 percent.
The S&P 500 was down 8.90 points, or 0.5 percent.
The Nasdaq is down 121.03 points, or 2.8 percent
For the year:
The Dow Jones industrial average is down 253.60 points, or 1.5 percent.
The Standard & Poor's 500 index is up 9.26 points, or 0.5 percent.
The Nasdaq composite is down 20.83 points, or 0.5 percent.
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