US stocks close higher, Dow down for the week

The Dow rose 4.33 points, or 0.01%, to 39,069.59. The S&P 500 gained 36.88 points, or 0.70%, at 5,304.72 and the Nasdaq advanced 184.76 points, or 1.10%, to 16,920.79.

NEW YORK: US stocks rebounded on Friday from sharp losses the day before on news of an improving consumer outlook on inflation, sending the Nasdaq to a fifth straight week of gains and record closing high.

The Commerce Department said new orders for key US-manufactured capital goods rebounded more than expected in April while the University of Michigan reported that consumers' inflation expectations improved in late May after deteriorating early in the month.