The stock market closed mixed, capping a month of good gains for the market and in particular for the Nasdaq composite. The S&P 500 today was barely higher.
XThe Nasdaq composite climbed 0.3% and came close to a new high. Small caps also performed better, with the Russell 2000 up 0.4%.
The S&P 500 rose a fraction, and the Dow Jones industrial average fell 0.1%. Boeing (BA) was the biggest drag on the Dow, falling 1.2% despite news that it won a contract to build a refueling drone for the U.S. Navy. Boeing's 4.11-point loss alone was enough to put the Dow in the red.
Late in the session, Dow Jones reported that U.S. and Canadian negotiators had failed to reach a new trade agreement. But U.S. officials said talks would soon continue. Indexes gained some ground in the final half hour after the headlines indicated hopes for a deal.
Volume fell, according to preliminary figures. Trading tends to slow down on the Friday before a three-day weekend on Wall Street. The stock market will be closed Monday for Labor Day.
For the month, the Nasdaq added 5.7%, the best month since January's 7.4% increase. The S&P 500 rose 3% and the Dow 2.2%.
The retail sector shined again, as a handful of store chains made big gains. Specialty, apparel, mail order, consumer electronics were in the top seven industry groups Friday.
Lululemon Athletica (LULU) surged 13% to a new high after the company smashed Wall Street estimates and reported a 20% pole vault in quarterly same-store sales. The athletic wear company also raised full-year guidance. Lululemon has been a productive pick of IBD Leaderboard.
Ulta Beauty (ULTA) jumped after the company's earnings report and news that Ulta will sell a line of cosmetic products from Kylie Jenner, the social media star. Ulta shares topped the 261.50 buy point of a flat base but closed slightly below it. Volume was heavy but the relative strength line failed to make a new high.
The SPDR Retail ETF (XRT) climbed 1.3% Friday and nearly 5% for August.
Semiconductor stocks also were strong, with the fabless chip group up more than 1% on the day. The Philadelphia semiconductor index rose 0.6%.
Energy, internet, building and some transportation groups were in the bottom of the 197 groups for the day.
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