U.S. Stock ETFs Push Higher as Investors Look Past Tech

U.S. equities and stock exchange traded funds strengthened Friday with industrials and consumer sectors bolstering markets.

The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEARCA:SPY), iShares Core S&P 500 ETF (NYSEARCA:IVV) and Vanguard 500 Index (NYSEARCA:VOO), were 0.3% higher Friday.

Industrial companies and consumer discretionary names in the S&P 500 both increased 0.8%.

Among the biggest movers, Nike shares (NYSE: NKE) jumped 10.1% to a three-month high after the world’s largest footwear maker announced a pilot program with Amazon (NasdaqGS: AMZN) to sell a limited product assortment on the website, Reuters reports.

Economic data also revealed U.S. consumer spending modestly increased in May while inflation cooled. However, the University of Michigan also showed consumer sentiment index was at its lowest since November.