Investing.com – US stocks closed higher on Friday, amid expectations that a strong holiday season would boost top-line growth of retailers.
The Dow Jones Industrial Average closed higher at 23,557.99. The S&P 500 closed 0.21% higher while the Nasdaq Composite closed at 6889.16, up 0.32%.
Adobe said it expects that spending increased 17% year-on-year increase in spending on Thursday.
That added to expectations that the retailers and tech companies are set to benefit from a boost to top-line growth as the seasonal shopping spree gets underway.
Shares of Walmart (NYSE:WMT) Macy’s and Kohl’s closed in positive, while Amazon (NASDAQ:AMZN) closed nearly 2% higher.
On the political front uncertainty whether the government would be able to pass corporate tax cuts before year-end as reports of a Republican internal clash over expiring tax cuts weighed on upside moment.
'Bulls and Bears' on Wall Street
The top Dow gainers for the session: Visa up 1%, DowDuPont Inc (NYSE:DWDP) up 0.8% and UnitedHealth Group Incorporated (NYSE:UNH) up 0.6%
Caterpillar (NYSE:CAT) down 0.4%, American Express (NYSE:AXP) down 0.4% and JPMorgan Chase & Co (NYSE:JPM) down 0.3%, were among the worst Dow performers of the session.