Wall Street edges higher

Credit: Reuters - Business (Amazon FireT
Published on May 24, 2019 - Duration: 01:01s

Wall Street edges higher

Wall Street's major stock indexes edged higher on Friday after falling in the previous session.

But as Fred Katayama reports, the Dow lost ground for the fifth week in a row.

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Wall Street edges higher

Stocks on Wall Street inched higher Friday ahead of the long holiday weekend.

The S&P 500 gained just over a tenth of a percent as investors shrugged aside weak data on capital goods orders.

But stocks couldn't overcome the losses suffered earlier in the week.

The Dow lost ground for the fifth week in a row.

Spartan Capital Securities chief market economist, Peter Cardillo.

SOUNDBITE: SPARTAN CAPITAL SECURITIES CHIEF MARKET ECONOMIST, PETER CARDILLO (ENGLISH) SAYING: "I just think, you know, a little bit of a bounce from yesterday.

Obviously, we had a pretty good sell-off.

It's been a rough 4 to 5 weeks." JP Morgan Chase, Bank of America, Wells Fargo and other financial stocks rallied after U.S. Treasury yields rose for the first time in three days.

Amazon shares among the top gainers on the S&P 500: Piper Jaffray predicts the stock will hit $3,000 in two years.

That implies a 65 percent gain.

Foot Locker shares led the decliners on the S&P.

Store traffic fell at the footwear retailer, and its same-store sales missed analysts' estimates for the first time in three quarters.

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