Wall Street edges up on data, S&P up for seventh week
NEW YORK (Reuters) – Stocks rose slightly Friday with the S&P 500 gaining for a seventh week in the wake of upbeat consumer sentiment data, though thin trading and the modest rise showed a continuing trend of a consolidating market after strong recent gains. The S&P 500, up nearly 7 percent so far this year, is facing strong technical resistance near the 1,525 level. But investors, expecting the index to advance further in the quarter, have held back from locking in profits. The Thomson Reuters/University of Michigan’s preliminary reading on the overall index of consumer sentiment rose to 76. . . .
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