What happened to the stock market on Friday: Strong data lifts stocks

What happened to the stock market on Friday: Strong data lifts stocks

Dow Jones Industrial Average rises 190 pointsU.S. manufacturing and services activity surge along with home salesData from IHS Markit showed U.S. manufacturing activity hit its highest level in 19 months in August, while services were at their highest level in 17 months. Meanwhile, existing home sales for July saw a record month-over-month spike of 24.7%. The average selling price for homes also hit an all-time high, jumping to $304,100.Apple extends rally, Deere gainsApple shares rose 5% to a fresh all-time high, building on its rally for the week. Deere, meanwhile, climbed 4% on the back of better-than-expected results for the previous quarter.What happens next?Consumer confidence and even more housing numbers are set for release next week. The Federal Reserve is also set to hold its annual symposium on monetary policy.Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.


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