U.S. stocks rebounded on Friday after sharp losses in the previous session, helped by news that consumer expectations about inflation improved, sending the Nasdaq index to a fifth straight weekly gain and a record closing high.
The Commerce Department said new orders for U.S.-made capital goods rebounded more than expected in April, while the University of Michigan said consumers' expectations for inflation improved in late May after deteriorating earlier in the month.
In Friday's session, the Dow Jones Industrial Average rose 4.33 points, or 0.01 percent, to 39,069.59 points.
The Standard & Poor's 500 index gained about 36.88 points, or 0.70 percent, to 5,304.72 points.
The Nasdaq Composite Index advanced 184.76 points, or 1.10 percent, to 16,920.79.
Despite its rise on Friday, the Dow Jones ended a five-week winning streak a day after posting its biggest daily percentage drop in more than a year.
In terms of weekly results, the Dow Jones index fell by about 2.33 percent, while the Standard & Poor's rose by 0.03 percent and the Nasdaq rose by 1.41 percent.
