Wall Street inches higher on back of economic data as holiday looms

Wall Street stocks closed higher on Friday, injecting a much-needed sliver of holiday cheer after investors probed new data for clues on likely Federal Reserve thinking.

The benchmark S&P 500 erased earlier losses to end 0.6 per cent higher, eventually dragging the Nasdaq Composite with it. The tech-heavy index closed up 0.2 per cent. Volumes were generally light as year-end holidays began in earnest.

Friday’s gains were not enough,…