The S&P 500 on Friday closed higher on the +0.6% increase in U.S. Jan leading indicators (stronger than expectations of +0.5% and the biggest increase in 1–1/2 years) and on a late-day rally in industrial and defense stocks after President Trump reiterated his promise to rebuild the U.S. military. Stock prices were undercut by weakness from a slide in European stocks on French presidential election fears.
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