Stocks rose modestly in a lightly-traded session Friday, ending the week slightly higher, as investors wavered between positive economic data and continuing fears about a slowing U.S. economy. In U.S. economic news, wholesale inventories jumped 1.3 percent in July. Investors considered the unexpected rise as a positive sign for the economic recovery. At a White House news conference, President Barack Obama said economic recovery is heading in the right direction but has been “painfully slow.” He continued his push for $350 billion in tax credits and infrastructure spending to stimulate the economy and create jobs. The U.S. dollar fell versus the euro and rose versus the yen. Light sweet crude oil for October delivery rose $2.20 to $76.45 a barrel on the New York Mercantile Exchange following reports of a pipeline leak. Gold futures fell $4.40 to $1,246.50 an ounce. The Dow Jones industrial average rose 47.53, or 0.5 percent, to 10,462.77. The broader Standard & Poor's 500 index rose 5.37, or 0.5 percent, to 1,109.55. The technology-heavy Nasdaq composite index rose 6.28, or 0.3 percent, to 2,242.48.
