US Market Indexes Higher on Friday and for the Week

Wall Street mixed after record highs

Wall Street mixed after record highs

United States stocks opened mixed, with the S&P lower and the Dow Jones heading for higher ground, shrugging off concerns about North Korea's latest missile test.

For the week, the Dow rallied 2.2% for its best weekly showing of the year, the S&P rose 1.6% for its strongest advance since January, and the Nasdaq added 1.4%. This is a boost from SPDR Dow Jones Industrial Average ETF's previous monthly dividend of $0.24.

US stocks have surged this year, despite turmoil in the White House, doubts about President Donald Trump's ability to push through his pro-business reforms, uncertainty over the timing of rate hikes, and lately, tensions over Pyongyang's missile tests. The August decline in sales and downward revisions to the prior months make it more likely that consumption, the biggest part of the economy, will be hard-pressed to match the 3.3 percent growth pace of the prior quarter.

Volume was unusually high Friday because of a quarterly event known as quadruple witching, when futures and options contracts on indexes and individual stocks expire.

No. 12 LSU Is Getting Blown Out By Mississippi State
Mississippi State dominated LSU at the line of scrimmage on most plays and the Tigers looked undisciplined and overmatched. After running through Charleston Southern 49-0 in its first game, Mississippi State then crushed Louisiana Tech 57-21.

At 12:40 p.m. ET (1640 GMT), the Dow Jones industrial average was up 39.67 points, or 0.18 percent, at 22,243.15 and the Nasdaq Composite was up 16.92 points, or 0.26 percent, at 6,446.00. The Nasdaq Composite Index was up 22 points, or 0.4%, to 6,451, hitting a intraday record at 6,464.27.

Gold fell 0.6 percent to $1,321.69 an ounce.West Texas Intermediaterose 0.1 percent to $49.93 a barrel. They yielded 1.06 percent and 1.19 percent in when-issued trading.

Rick Rieder, the chief investment officer for BlackRock's global fixed income business, said retail sales and inflation have been weak because technological changes keep reducing the prices of clothes, food, travel, and phone plans. The Federal Reserve said the decline was mostly due to the recent impact of Hurricane Harvey. The benchmark 10-year yield started the week near 2.09%; it traded around 2.19% Friday.

USA gold futures fell 0.16 percent to $1,327.20 an ounce. In August they fell 0.2% MoM versus expectations of a 0.1% rise while July's growth rate was revised down from +0.6% to +0.3% MoM.

UN Secretary-General condemns DPRK ballistic missile launch
Trump tweeted earlier this month, vowing that the USA was considering ceasing trade with nations doing business with North Korea . It came on the heels of the adoption of a United Nations resolution imposing harsher sanctions against Pyongyang.

Wholesale gasoline rose 3 cents to $1.66 a gallon.

Japan's benchmark Nikkei 225 index edged up 0.1 percent to 19,835.30 but South Korea's Kospi lost 0.4 percent to 2,369.32.

Brick-and-mortar retail stocks weighed on the S&P 500, with Tiffany and Under Armour among the index's biggest laggards.

Nelson On Nursing Home Regulation: There's Going To Be Hell To Pay
She said she last heard from her sister two days earlier and learned the air conditioning was not working. One question is, why were there mass deaths at this one nursing home when it didn't happen and others?

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