NEW YORK (AP) — The split between Wall Street and most U.S. households grew wider Friday, as U.S. stocks rose toward the finish of an eighth straight winning week, their best such streak since 2023. That's even though a survey showed U.S. consumers are feeling even worse about the economy.
The S&P 500 added 0.7% and pulled closer to its all-time high set in the middle of last week. The Dow Jones Industrial Average was up 408 points, or 0.8%, as of noon Eastern time, and the Nasdaq composite was 0.6% higher.
Ross Stores helped drive the market and rose 6.5% after the off-price retailer reported profit and revenue for the latest quarter that easily cleared analysts' expectations. CEO Jim Conroy said it saw strong customer traffic through the three months, and the company may have benefited from households spending their tax refunds.
