Dow Jones Industrial Average rises by tk points
Dow positive for 2020
The average of 30 stocks joined the S&P 500 and Nasdaq as it found its way back into positive territory for the year. "To some extent, this is psychologically positive for the market," said Randy Frederick, vice president of trade and derivatives at Charles Schwab. These gains came after the release of positive economic data. US consumer spending rose 1.9% in July, beating a Reuters forecast of 1.5%, the Department of Commerce said. Personal income was also stronger than expected, rising 0.4%, while economists had forecast a drop of 0.2%.
Coca-Cola, Walmart run Dow
Coca-Cola stock rose 3.3%, leading the Dow higher on Friday. The move came after the company announced a restructuring plan that would streamline its beverage portfolio and focus on its larger, more popular brands. Walmart also contributed to the gains, up 2.7%.
What happens next?
Traders will prepare for the end of the month on Monday, as well as key employment data due to be released later next week.
Subscribe to CNBC PRO for exclusive insights and analysis as well as live business day programs from around the world.