U.S. stocks traded higher on Friday, after reports showed consumer confidence and manufacturing improved last month more than analysts forecast, despite a rise in the price of crude oil to a record high. In light of the costly fuel prices, economists have been closely watching the mood of consumer for any weakness, since their spending accounts a hefty chunk of the overall U.S. economy. The Dow Jones industrial average was up 43.43 points, or 0.42 percent, at 10,318.40. The Standard & Poor's 500 Index was up 3.42 points, or 0.29 percent, at 1,194.75. The technology-laced Nasdaq Composite Index was up 3.09 points, or 0.15 percent, at 2,060.05. The University of Michigan's June sentiment index jumped to 96 from 86.9 in May, beating the 94.8 forecast of economists in a Reuters poll. On Tuesday, another consumer confidence index, calculated by the Conference Board, hit a three-year high. The Institute for Supply Management's factory activity index rose to 53.8 in June, from 51.4 in the previous month. Analysts had forecast an increase to 51.5, according to a Reuters poll. The ISM's prices-paid index dropped to 50.5 last month from 58 in May. --More 1759 Local Time 1459 GMT
