By DAMIAN J. TROISE and ALEX VEIGA
Stocks capped a listless day of trading on Wall Street with modest gains Friday and the S&P 500’s first weekly gain in three weeks.
Gains in technology and health care companies outweighed a slide in communications stocks, retailers and elsewhere in the market. The S&P 500 rose 0.1% and notched a 1.2% gain for the week.
The benchmark index closed out the final day of trading in May with a monthly gain of 0.5%. That’s the index’s fourth straight monthly increase and follows a bumpy few weeks in the markets as investors moved past a stellar corporate earnings season and focused on the tug-of-war between the economic recovery and rising inflation.
Wall Street largely shrugged off a report indicating consumer spending increased last month, the latest economic snapshot to show inflation accelerating in the U.S. economy. Treasury yields fell, including the yield for the benchmark 10-year Treasury. Typically, worries…