US stock market closes higher

By Ovunc Kutlu

NEW YORK (AA) – U.S. stocks finished the week in positive territory Friday as retail sales posted their strongest monthly gain in two-and-a-half years.

The Dow rose 30 points to end at 22,871 and the S&P added two points to close at 2,553.

The Nasdaq was up 14 points to close the last trading day of the week at 6,605 -- a new record high.

The Dow gained 0.4 percent for the week, while S&P rose 0.2 percent. Each index recorded a fifth consecutive week of gains.

A 0.2 percent gain by Nasdaq was its third weekly increase.

Retail sales in September fell just short of the expected 1.7 percent increase but came in at 1.6 percent compared to the previous month, according to the Commerce Department.

It was the strongest monthly showing since March 2015.