(By Salman - iStockAnalyst Writer)US stocks finished flat finished with gains on Friday after better than expected economic data spurred optimism that the recession is easing.
The Dow Jones Industrial Average advanced 44.29 points or 0.54% to finish at 8,212.41. The S&P 500 climbed 4.71 points or 0.54% to end at 877.52. The Nasdaq Composite gained 1.90 points or 0.11% to 1,719.20.
A release by University of Michigan/Reuters showed that consumer sentiment index rose to 65.1 in April from 57.3 in March. Consensus estimates were for consumer sentiment to rise 61.9%.
According to Department of Commerce, U.S. factory orders fell 0.9% in March. Economists expected a reading of 0.6%.
Institute for Supply Management said on Friday that its manufacturing index rose to 40.1% from 36.3% in March, the highest since September.
Early on Friday,
Chevron Corp. (NYSE:CVX) reported that its first quarter net income tumbled 64% to $1.84 billion, or 92 cents a share, from $5.17 billion, or $2.48 a share, in the year-ago period. Revenue slipped 46% to $35 billion from $65 billion. Shares of Chevron finished at $66.87, up 77 cents or 1.16%.
Exxon Mobil Corp.
(NYSE: XOM) rose $1.34 or 2.01% to $68.01.
The largest US aluminum producer Alcoa In.
(NYSE: AA) soared 62 cents or 6.84% to $9.69.
Shares of equipment maker Caterpillar
(NYSE: CAT) income surged $1.68 or 4.72% to $37.26.
Embattled US automaker, General Motors Corp.
(NYSE: GM) retreated 11 cents or 5.73% to $1.81 after it said on Friday that its light vehicle sales declined 33.2% in April to 172,150 vehicles.
Shares of the second largest US automaker Ford (NYSE: F) slumped 29 cents or 4.85% $5.69 after it reported that US sales plunged 31.6% in April to 134,401 cars and trucks from 196,385 a year ago.
Chrysler saw a 48% drop in April sales from the same month a year ago. Chrysler LLC on Thursday filed for bankruptcy after talks between the U.S.
