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U.S. stocks turned higher on Friday, with the S&P 500 on track for a seventh monthly gain, as investors sorted through mixed economic reports. Week ahead: ECB, U.S. payrolls U.S. nonfarm payrolls data will be watched closely for clues on any change in the Federal Reserve's policy toward quantitative easing. There will be key interest-rate decisions by the European Central Bank and the Bank of England, where Gov. Mervyn King will mark his final appearance. Equities shed their losses and turned higher after the release of the Thomson Reuters/University of Michigan's final index of consumer sentiment, which climbed to 84.5 for May, topping forecasts and the highest level since 2007. "The consumer sentiment is very encouraging for the market overall; we had a quick bounce when that number came out," said J.J. Kinahan, chief strategist at TD Ameritrade. After falling as much as 60 points and rising as much as 62, the Dow Jones Industrial Average DJIA +0.14% was lately up 56.48 points at 15,380.93. The S&P 500 index SPX -0.02% climbed 3.82 points to 1,658.23, with utilities and technology faring best and consumer staples and energy hardest hit among its 10 industry groups. "I think bulls would consider it a victory to come out of today with even a small loss. There has been so much pressure from Asia all week and yet the S&P has hung in there," said Kinahan. The U.S. dollar DXY +0.48% on Friday fell to a three-week low against the Japanese yen USDJPY +0.1202% , with the American currency on track for an eighth straight month of gains versus the yen. Expectations of monetary easing moves by the Bank of Japan is expected to result in further softening of Japan's currency. The Nasdaq Composite COMP +0.10% gained 8.94 points to 3,500.23. For every three stocks rising, four fell on the New York Stock Exchange, where nearly 200 million shares traded as of 11:20 a.m. Eastern. Composite volume neared 1.1 billion. Casting the largest chunk of the U.S. economy on uncertain footing, the Commerce Department on Friday reported household purchases declined 0.2% last month, following a 0.1% rise in March; incomes were static. Equity futures held their drop after the spending report. Separately, the Chicago PMI jumped to 58.7 in May, its best reading in more than a year. Dell Inc. DELL +0.83% rose 1% as founder Michael Dell, the computer maker's board of directors and its private-equity partners faced a lawsuit by shareholders contesting Dell's effort to take the company private. Dell on Friday urged shareholders to vote for the $24.4 billion buyout offer led by CEO Dell at a special meeting July 18, calling it better than other options. Among movers, Krispy Kreme Doughnuts Inc. KKD +16.13% climbed after the doughnut maker beat first-quarter profit and revenue estimates and raised its outlook for the year. U.S. stocks gained on Thursday as reports on economic growth and jobless claims heightened thinking that the Federal Reserve would continue its level of monthly bond purchases. The central bank's monetary easing is a major factor in the bull market, now in its fourth year

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This video was published on 2013-05-31 22:03:21 GMT by @Watch-Me-TRADE on Youtube. Watch Me TRADE has total 5.7K subscribers on Youtube and has a total of 261 video.This video has received 31 Likes which are higher than the average likes that Watch Me TRADE gets . @Watch-Me-TRADE receives an average views of 4K per video on Youtube.This video has received 4 comments which are lower than the average comments that Watch Me TRADE gets . Overall the views for this video was lower than the average for the profile.

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