U.S. stocks faded at the finish but are ending the second quarter with gains as retailers and industrial companies rise.
Athletic apparel maker Nike had its best day in almost two years Friday. Its shares jumped 11 percent after a strong quarterly report. Nike also said it’s testing a program to sell sneakers directly through Amazon.com.
Among industrial companies, construction equipment maker Caterpillar climbed 1.7 percent.
Stocks took a downturn in the final minutes of trading as health care and technology companies and banks finished with modest losses.
The Standard & Poor’s 500 index rose 3 points, or 0.2 percent, to 2,423.
The Dow Jones industrial average picked up 62 points, or 0.3 percent, to 21,349. The Nasdaq composite lost 3 points, or 0.1 percent, to 6,140.
Stocks are higher at midday as a big gain for Nike lifts retailers and other consumer-focused companies.
Nike jumped 9 percent Friday after a strong quarterly report. The athletic apparel company also said it’s testing a program to sell sneakers through Amazon.com directly, instead of via third-party sellers.
Elsewhere, Under Armour gained 2.1 percent and home improvement retailer Lowe’s added 1.5 percent.
Banks lost ground and small-company stocks were lower. Sterling Bancorp fell 1.4 percent and Universal Insurance Holdings gave up 2.5 percent.
The Standard & Poor’s 500 index rose 4 points, or 0.2 percent, to 2,424 on the last day of the second quarter.
The Dow Jones industrial average picked up 63 points, or 0.3 percent, to 21,350. The Nasdaq composite gained 1 point to 6,146.
Stocks are starting higher with retailers and consumer-focused companies leading the way.
Nike jumped 7.9 percent Friday after a strong quarterly report. The athletic apparel company also said it’s testing a program to sell sneakers through Amazon.com directly, instead of via third-party sellers.
Commercial real estate investment trust Parkway rose 12.2 percent after the Canada Pension Plan Investment Board agreed to buy it for about $1.13 billion.
Organic food maker Hain Celestial climbed 7.8 percent after activist investor Engaged Capital disclosed a 9.9 percent stake in the company.
The Standard & Poor’s 500 index gained 8 points, or 0.4 percent, to 2,428.
The Dow Jones industrial average added 97 points, or 0.5 percent, to 21,384. The Nasdaq composite picked up 22 points, or 0.4 percent, to 6,167.
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