U.S. stocks closed higher Friday, capping off the sixth straight week of gains. In U.S. economic news, the Thomson Reuters/University of Michigan Consumer Sentiment Index rose to 73.6 in early August from 72.3 last month. Economists had expected the preliminary reading to come in at 72.2. Also, the Conference Board said its index of leading economic indicators for July rose 0.4 percent. Economists had expected the index to have increased 0.2 percent. All three indexes ended higher for the week. The Dow and S&P 500 have advanced for six weeks in a row, while the Nasdaq has gained ground the past five weeks. Also, stocks have been trading close to the highest levels since May 2008. The S&P 500 closed less than five points below the key 1,420 level. In company news, United Technologies was the biggest gainer on the Dow, while drug maker Merck was the biggest drag on the index. Apple stock rose to a new all-time high, climbing above $644 a share. The dollar gained against the euro, the pound, and the yen. Light sweet crude oil for September delivery rose 41 cents to $96.01 a barrel on the New York Mercantile Exchange. Gold futures moved up $2 to $1,619.40 an ounce. The Dow Jones industrial average gained 25.09, or 0.19 percent, to 13,275.20. The broader Standard & Poor's 500 index rose 2.65, or 0.19 percent, to 1,418.16. The technology-heavy Nasdaq composite index moved up 14.20, or 0.46 percent, to 3,076.59.
