Shrugging off evidence of slowing economic growth and uncertain consumer confidence, stocks climbed modestly Friday, giving Wall Street its third winning week in a row.
Crude oil prices ticked back up by 8 cents a barrel, but remained near their low for the past three-weeks at $43.18 a barrel.
On the New York Mercantile Exchange, crude oil futures ended the week down more than 7.5 percent, which help boost the stock market.
Stock trading was the slowest of the year, Bloomberg reported, as New Yorkers slipped out of town for a long weekend before next week's Republican National Convention. Convention events are not forecast to have much impact on the market, but as the city fills with delegates, convention camp followers and protesters next week, Wall Street's daily routine could be disrupted.
The Dow Jones industrial average gained 22 points to 10,195.01
The Standard & Poor's 500 stock index picked up 3 points, closing at 1,107.77.
The Nasdaq Stock Market composite index advanced 9 points to 1,862.09.
For the week, the Dow was up 85 points, the S&P up 9 and the Nasdaq 24.
Updating second quarter economic performance today, the Commerce Department said the economy grew at a 2.8 percent rate during April, May and June. Preliminary reports showed 3 percent growth, but the downward adjustment was not unexpected.
Growth, however, was down sharply from the first quarter when the gross domestic product increased at a 4.5 percent a year rate.
Consumer confidence also is slipping slightly, the latest University of Michigan survey showed. The August index fell to 95.9 from 96.7 in July, a barely significant decline.