Mixed economic reports pinned the stock market to only modest moves last Friday, but major indexes managed to edge higher for a second-straight week. Uneven figures on retail sales and consumer confidence gave investors little new insight into the U.S. economy as the stock market struggled for direction. February retail sales rose after forecasts had called for a decline. But a separate report showed consumer sentiment edged lower in early March, according to a survey that noted a less positive view of the stateside job outlook. Bank shares dominated the week’s activity on what analysts saw as an improved outlook for the sector. For the week, the Dow Jones industrial average edged up 0.55% to 10,624.69. The Standard & Poor’s 500 index climbed 1% to 1,149.99, and the Nasdaq Composite index advanced 1.78% to 2,367.66. Nasdaq is the acronym for the National Association of Securities Dealers Automated Quotation System.
On the local front, the Government Development Bank’s Puerto Rico Stock Index (PRSI) managed to close the week on positive ground for the second week in a row as most components posted weekly gains. For the week, the PRSI added 58.07, or 3.16%, to close at 1,892.96. Last week’s top gainer was Eurobancshares Inc., which added $0.09, or 20.45%, to close at $0.53. It was followed by Doral Financial Corp., which gained $0.27, or 7.22%, to close at $4.01. First BanCorp advanced $0.11, or 5.29%, to close at $2.19. Popular Inc. climbed $0.10, or 4.50%, to close at $2.32. Oriental Financial Group edged up $0.41, or 3.56%, to $11.94. Topping the list of nongainers was R-G Financial Corp., which lost $0.01, or 14.29%, to close at $0.06. Santander BanCorp fell $0.04, or 0.33%, to $12.26.