NEW YORK, Sept 15 (Reuters) - A gauge of global equities rose and shares on Wall Street set new highs on Friday as investors shrugged off the latest missile test by North Korea, while the dollar eased on unexpected weak economic data that dimmed the likelihood for a US rate hike.
The Dow Jones Industrial Average rose 64.86 points, to 0.3%, to close at 22,268.34, logging its fourth straight record close and its sixth consecutive day of gains. US retail sales unexpectedly fell in August (http://www.marketwatch.com/story/us-retail-sales-slump-near-end-of-summer-2017-09-15), dropping 0.2% in their second decline of the past three months. The dollar weakened after an unexpected decline in August retail sales raised concern over theeconomy's strength.
Stocks are closing at more record highs on Wall Street as technology and industrial companies and banks post gains.
From a sector standpoint, on Friday the best performance was seen in the following industrial groups: Semiconductors (1.90%), Fixed line telecommunications (1.78%), Telecommunications (1.68%) and Railroads (1.49%). Yields on 10-year Treasuries topped 2.2 percent. Forward Management LLC acquired a new stake in shares of SPDR Dow Jones Industrial Average ETF in the second quarter valued at $50,291,000.
The pan-European FTSEurofirst 300 index of leading regional shares lost 0.46 percent to close at a preliminary 1,494.61.
The Bloomberg Dollar Spot Index fell 0.2 percent.The euro climbed 0.2 percent to $1.1941.The British pound gained 1.3 percent to $1.3568, the strongest in nearly 15 months.
Apple added 1.4 percent Friday, while Boeing moved up 1.5 percent. Many companies on the British FTSE 100 are multinationals whose overseas earnings are diminished in value when the pound appreciates against other currencies.
The consumer discretionary index fell 0.54%, pulled down by a 0.74% decline in Amazon.com and a 0.93% dip in Walt Disney.
The pound surged to $1.3571 from $1.3398, its highest since mid-2016. The benchmark 10-year yield started the week near 2.09%; it traded around 2.19% Friday.
In commodities trading, crude oil futures are inching up $0.11 to $50 a barrel after climbing $0.59 to $49.89 a barrel on Thursday.
Stocks in tech companies kicked off the session as the worst performers but they turned around in late-morning trading.
Wholesale gasoline rose 3 cents to $1.66 a gallon.
South Korea's Kospi index closed 0.4% higher, bouncing back from an earlier drop, as Asian markets overall finished mixed. The S&P 500 technology sector reported a gain of 0.05%. The euro rose to $1.1881 from $1.1873.
The Fed said Hurricane Harvey is estimated to have reduced the rate of change in total output by roughly three-quarters of a percentage point.