Economic Data Fuel Late Rally To Lift Stocks
Stocks edged higher in lackluster trading as traders' attention began to shift to the beaches and barbecues of Memorial Day weekend.</br></br>On the strength of late-day upticks, the major indexes all finished in positive territory. The Nasdaq Composite index rose 1.72%, or 38.54 points, to 2282.02. The Dow Jones Industrial average rose 0.15%, or 16.91 points, to 11122.42. And the Standard & Poor's 500-stock index rose 0.32%, or 4.12 points, to 1293.17.</br></br>Volume is expected to be light today, and investors will have the three-day weekend to ponder whether stocks' relatively strong performance so far this week signals a sustained rise.</br></br>Driving yesterday's market were new economic data showing a decline in April home sales and an increase in jobless claims last week. For the stock market, both were considered bullish signs of low inflation, which could clear the way for the Federal Reserve to cut interest rates.</br></br>Cisco, Microsoft and Intel all rallied, helping the Nasdaq to post the day's best performance. The index is up 3.8% for the week so far.