Stocks Rise With Weak Data Set Aside; Oil Jumps: Markets Wrap

Economy sets grim records with April retail, factory data
U.S. moves to block Huawei from global chip suppliers

Eric Schmidt, former Google chief executive officer and chairman, talks about what life will look like in offices after the pandemic. Source: Bloomberg

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By Rita Nazareth and Claire Ballentine

May 14, 2020 at 9:41 PM UTC

Updated on

May 15, 2020 at 8:16 PM UTC

This article is for subscribers only.

U.S. stocks rose as traders looked past trade jitters and weak economic data. Treasuries fell. Oil jumped.

The S&P 500 erased losses, but still posted its worst week since March 20 -- just before the gauge started a torrid rally. Sorrento Therapeutics soared 158% amid coronavirus antibody development claims. J.C. Penney surged 21% after saying it made an almost $17 million interest payment due May 7. Earlier Friday, stocks slumped as retail sales and factory output registered their steepest declines on record. Meanwhile, the U.S. moved to curtail Huawei Technologies’ chip supply, spurring a rout in semiconductor companies.