Small Gain Leaves S&P 500 At Fresh Record High -- U.S. Commentary

(RTTNews) - U.S. stocks were mixed Friday, with the S&P 500 crawling to a fresh record high despite some disappointing economic data.

The S&P 500 closed 1.61 points, or 0.1 percent, higher at 2,122.71, a fresh record. The benchmark index gained 0.3 percent over the week.

Netflix (NFLX) shares jumped 4.5 percent amid reports the company is in talks with a Chinese media company backed by Jack Ma and other possible partners as it seeks entry into the country's $5.9 billion online video market.

The Dow Jones Industrial Average rose 20.42 points, or 0.1 percent, to 18,272.62, rising 0.5 percent over the week. The Nasdaq Composite ended down 2.5 points at 5,048.29, but gained 0.9 percent over the week.

Coffee maker Keurig Green Mountain (GMCR) shares tumbled 9 percent, adding to recent losses, after a cool reception for its cold beverage machine.

Google (GOOG) lost 0.8 percent after saying its driver-less car will be tested on public roads this summer.

A report from the University of Michigan showed a substantial decrease in U.S. consumer sentiment in the month of May. It's the latest in a series of data suggesting the economy is struggling to rebound from the rough winter.

The report said the consumer sentiment index tumbled to 88.6 in May from 95.9 in April, while economists had expected the index to edge down to 95.8.

Richard Curtin, the survey's chief economist, said, "Confidence fell in early May as consumers became increasingly convinced that there would be no quick and robust rebound following the dismal 1st quarter."

"The decline was widespread among all age and income subgroups as well as across all regions of the country," he added.

Before the start of trading, the Federal Reserve released a separate report showing an unexpected decrease in U.S. industrial production in the month of April.

The report said industrial production fell by 0.3 percent in April, matching the upwardly revised decrease seen in March.

Economists had expected production to come in unchanged compared to the 0.6 percent drop originally reported for the previous month.