US stocks rise on spending data

Wall Street extended its rebound to a third session today, ending with a moderate advance after personal consumption data bolstered the outlook for the economy and interest rates. The major indexes finished the week with solid gains.

Investors were upbeat about a Commerce Department report that income and spending rose in April, helped along by improved wages that kept consumers buying at stores. The change in core prices – excluding energy costs – also tailed off slightly to advance 0.2% last month.