Wall Street ends higher, still winds up with 3rd weekly loss
Stocks closed higher on Wall Street following a batch of mixed news on the economy NEW YORK -- A choppy day on Wall Street ended with broad gains for stocks Friday, though most of the major indexes wound up with their third weekly loss in a row. Mixed economic news weighed on stocks early on, but the indexes rebounded by late afternoon amid relatively light trading ahead of a long holiday weekend. The S &P 500 reversed a 0.7% loss to close 0.6% higher . With one week left of trading in 2022, the benchmark index is down 19.3% for the year. The Dow Jones Industrial Average rose 0.5% and the Nasdaq composite eked out a 0.2% gain. The S &P 500 and Nasdaq posted their third straight weekly loss. Markets are in a tricky situation where relatively solid consumer spending and a strong employment market reduce the risk of a recession but also raise the threat of higher interest rates from the Federal Reserve as it presses its campaign to crush inflation. The government reported Friday...