Stocks Traded Mostly Higher, Eyed on Coronavirus, Economic Data

U.S. stocks traded mostly higher Friday Moroning, after a mixed print on January retail sales growth and as coronavirus cases continued to rise. The Dow Jones Industrial Average lately fell 20.72 points, or 0.07%, to 29,402.59. The S&P 500 gained 2.27 points, or 0.07%, to 3,376.21. The Nasdaq Composite climbed 8.63 points, or 0.09%, to 9,720.60.

Oil futures gained ground Friday, putting crude on track for its first weekly rise in six weeks. West Texas Intermediate crude for March delivery rose 68 cents, or 1.3%, to $52.10 a barrel, while April Brent crude was 71 cents higher at $57.05 a barrel, a gain of 1.3%. Retail sales climbed 0.3% last month, the government said Thursday

Retail sales in the U.S. rose modestly in January as Americans spent more money eating out and furnishing their homes, but spending was relatively soft at the start of the new year.

U.S. factory output fell in January on the production halt for Boeing Co.’s 737 Max. Manufacturing output declined 0.1% from the prior month, matching projections, after a downwardly revised 0.1% gain in December, according to Federal Reserve data released Friday.

Canopy Growth’s (WEED.TO)(CGC) sales climbed to $124 million in the company’s fiscal third quarter of 2020, topping analyst estimates while posting a narrower loss. The company largely attributed the revenue increase to over 140 pot stores opening their doors.

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