NEW YORK - Despite lacklustre economic data, Wall Street stocks posted their best session of the week on Friday , with tech shares leading the market higher.The Dow Jones Industrial Average finished up 1.3 per cent at 27,173.96, while the broad-based S&P 500 gained 1.6 per cent to 3,298.46.
"The market has been under pressure for a while and is just catching a bit of a bargain-hunting Friday," said Art Hogan, chief market strategist at National Securities.US durable goods orders grew by 0.4 per cent in August, below estimates and a much slower level of growth than July's upwardly revised 11.7 per cent increase.
The tepid data add to worries that consumer spending is weakening as progress on another coronavirus stimulus package remains stalled. Analysts said the market is also becoming more worried about a protracted US presidential election after Donald Trump repeatedly declined this week to commit to a peaceful transition of power if he loses in November.Another big winner was Boeing, which surged 6.9 per cent after Europe's aviation regulator said the long-grounded 737 Max could be cleared to resume service by the end of the year.
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