NEW YORK (AP) -- The Dow Jones industrial average has logged its first winning week in a month.
The Dow rose 39 points Friday and ended the week with a gain of 2.8 percent, its best weekly advance since mid-February. The market slid in morning trading on disappointing retail sales numbers but started to pare its losses after a report found consumers are gaining confidence in the economy. The market climbed in the last hour of trading to end near the highs of the day.
Treasury prices rose, pushing down interest rates, after spiking on Thursday.
The preliminary Reuters/University of Michigan consumer sentiment index for June showed consumer confidence rose to its highest level since January 2008 and came in well ahead of forecasts. The jump in confidence was an encouraging sign, but still doesn't signal the all-clear for the economy, said Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn.
