US stocks boosted by strong consumer data

NEW YORK - Wall Street stocks finished higher on Friday , shaving losses for the week following mostly solid retailer earnings and good consumer confidence data.

"US consumers make up two thirds of the economy so the fact that the consumer spending is so strong, both on Main Street and Wall Street, especially as we head into the holiday season, is significant," he said.The broad-based S&P 500 gained 0.2 per cent, closing at 3,110.29, and the tech-rich Nasdaq Composite Index also added 0.2 per cent, rising to 8,519.88.

Earlier, Chinese President Xi Jinping said he hoped a deal was close at hand but that he was"not afraid" to fight back if necessary.

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