U.S. stocks edged up on Friday as solid earnings from Walt Disney Co and JC Penney Co Inc offset weaker-than-expected consumer sentiment data.
Stocks briefly turned negative after U.S. consumer sentiment dipped in early November to the weakest in three months amid grim expectations for job and income prospects.
But shares quickly rebounded, helped by Disney
The Dow Jones industrial average <.DJI> was up 38.47 points, or 0.38 percent, at 10,235.94. The Standard & Poor's 500 Index <.SPX> was up 2.92 points, or 0.27 percent, at 1,090.16. The Nasdaq Composite Index <.IXIC> was up 3.56 points, or 0.17 percent, at 2,152.58.
We have a very resilient market, and it appears it's kind of shaking off the effect of that bad number, said Richard Sparks, senior equities analyst and vice president of research at Schaeffer's Investment Research in Cincinnati.
Retailer Abercrombie & Fitch Co
The U.S. dollar <.DXY> resumed to decline against other currencies, further supporting the gains in stocks after the Dow ended its six-day winning streak in the previous session.
The U.S. trade deficit widened in September by an unexpectedly large 18.2 percent, the most in more than 10 years, as oil prices rose for the seventh straight month and imports from China bounded higher, a U.S. government report showed on Friday.
(Additional Reporting by Chuck Mikolajczak; Editing by Padraic Cassidy)