NEW YORK — U.S. stocks rose Friday as technical factors overshadowed the day’s economic data, softening the benchmark indexes’ fourth straight weekly loss.
The Dow Jones industrial average closed up 38.82 points, or 0.3 percent, to 12,441.58. For the week, it lost 0.6 percent, lengthening the Dow’s losing stretch to four — its longest in more than a year.
The Standard & Poor’s 500 index climbed 5.41 points, or 0.4 percent, to 1,331.10, with natural-resource stocks and financial shares leading a rise shared by all 10 industry groups. It lost 0.2 percent for the week, also its fourth weekly decline.
Stocks have lost more than 2 percent this month, weighed by economic reports signaling a cooler pace of recovery. The indexes have found support along some technical levels.
“This pattern of lower highs and lower lows is something I think the market is watching,” said Robert Pavlik, chief market strategist at Banyan Partners. If the S&P 500 can rise through short-term resistance of 1,343.6, the close hit on May 19, without first pulling back, “then we have broken through the series of lower highs,” said Pavlik.
“Basically, the 1,300 level on the S&P is pretty good support, but 1,350 is resistance, and volume has been really low,” said Linda Duessel, equity strategist at Federated Investors.
The Nasdaq composite advanced 13.94 points, or 0.5 percent, to 2,796.86. For the week, it lost 0.2 percent, its second consecutive weekly decline.
Commodities also ended the week higher. On the New York Mercantile Exchange, crude-oil futures added 36 cents to end at $100.59 a barrel. Gold futures rose $13.50 to $1,536.30 an ounce.
Investors parsed through economic reports that contained some bright spots, as well as some dimmer views on the economy.
A gauge of consumer sentiment rose in May as expectations improved, according to the Thomson Reuters/University of Michigan survey.
However, pending home sales slumped 11.6 percent in April, the National Association of Realtors reported.
