NEW YORK — U.S. stocks edged higher ahead of the holiday weekend as gains in industrial stocks slightly outweighed weakness in health-care and energy shares. The dollar advanced.
The S&P 500 index pushed above 2,900 after data showed retail sales jumped by the most since September 2017 and unemployment claims fell. Pinterest Inc. and Zoom Video Communications Inc. both surged following initial public offerings. Blackstone Group LP rallied after saying it will convert to a corporation. Health insurers and hospitals halted a slide sparked by concern over medical policy.
The yield on 10-year Treasuries slipped, while the dollar strengthened against major peers. The euro fell following disappointing German and euro-area factory numbers. West Texas crude declined, while emerging-market stocks headed for their biggest decline in a week.
Equity investors remained cautious ahead of the three-day weekend for U.S. markets, with many assessing the long-awaited findings of the Special Counsel’s report on Russian interference in the 2016 election. Exchanges across Europe will also be shuttered on Monday.
So far this week solid economic data out of China, optimistic signals from the trade talks and a decent start to the earnings season had not been enough to spur much risk appetite, particularly after policy concerns sank American healthcare stocks on Wednesday.