Stocks rise as rally continues with economy in focus: Stock market news today

US stocks rose at Friday’s open, after rallying the previous day amid signs of a resilient economy that boosted hopes the Federal Reserve could end its rate-hike campaign soon.

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The S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) both ticked up around 0.4%, while the technology-heavy Nasdaq (^IXIC) was up slightly less.

The University of Michigan Consumer Sentiment Index showed consumers are slightly more confident about the state of the economy, a data point that could help tilt a “hawkish” Fed closer to a July rate hike.

The June preliminary number came in at 63.9, compared to expectations of 60.5, according to estimates from Bloomberg. The index had dipped to 59.2 last month in its first dip since February.

Global stocks were getting a lift from growing expectations that China will have to bump up stimulus as its recovery stutters.

But the US bull market could face a test as $4.2 trillion in options expire Friday. That typically leads to portfolio reshuffles, which have led to sudden price swings in the past.

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