Home Facts market

Dow, S&P break six-week losing streak

Dow, S&P break six-week losing streak

Write: Julianne [2011-06-18]

U.S. stocks ended mixed on Friday, with the Dow and S&P 500 posting small weekly gains after a six- week losing streak, as Greek debt problems showed some signs of easing.

Market sentiment was lifted after France and Germany said they reached an outline agreement to aid the debt-burdened country.

Meanwhile, a report from the New York- based Conference Board showed the U.S. index of leading economic indicators, a gauge of future economic activities, increased 0.8 percent in May, beating economists' forecast.

The Consumer Group said the modest U.S. economic growth, though buffeted by such factors as high gas and food prices and a soft housing market, will still continue at a choppy pace through the summer and fall.

However, the Thomson Reuters/University of Michigan consumer sentiment index fell to a preliminary reading of 71.8 for June, well below expectations..

The Dow Jones industrial average rose 42.84 points, or 0.36 percent, to 12,004.36. The Standard & Poor's 500 was up 3.86 points, or 0.30 percent, to 1,271.50. The Nasdaq Composite Index fell 7.22 points, or 0.28 percent, to 2,616.48.