Mitchell Jaworski – AHN News Reporter

New York, NY, United States (AHN) – U.S. markets finished the week higher despite a mixed bag of economic data. Strong earnings reports from a handful of big-cap tech names helped fuel gains on Friday.

The Dow Jones Industrial average added 13 points or 0.12 percent despite decliners outpacing advancers 17 to 13. Caterpillar (NYSE: CAT) helped pull the Dow higher after rallying 1.6 percent following news that sales had risen worldwide for the heavy equipment maker.

The S&P 500 finished just above the flat line at 1,125 after rising as high as 1,130 early on in Friday’s session. The benchmark index did register a 1.4 percent gain for the week.

The Nasdaq Composite rose 12 points or 0.5 percent as big-cap tech led the way. Oracle (NSDQ: ORCL) and Research in Motion (NSDQ: RIMM) both reported better than expected earnings, while providing strong forecasts. The news helped tech stocks finish the week with gains in excess of 4 percent.

Crude oil slipped on Friday, down 1.2 percent to settle at $73.66 a barrel on the New York Mercantile Exchange.

On the economic front, the Commerce Department reported a 0.4 percent rise in August retail sales earlier in the week. The result topped estimates for a 0.3 percent rise following the 0.3 percent rise in July.

However, the economic slate ended on a weak note with Michigan Consumer Sentiment, reported on Friday, coming in at 66.6, well below the 70 expected and short of the 68.9 reading registered in August.

Next week’s market will see the release of several data sets related to the housing market, with the National Association of Homebuilder’s market index kicking things off on Monday.

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