By Deepa Seetharaman Fri Aug 15, 7:22 PM ET NEW YORK (Reuters) - Bolstered by falling oil prices and a rising dollar, U.S. stocks could extend their modest gains next week, even in the face of still troubling consumer- and housing-related data.Oil's downward trend helped boost consumer spending slightly in the past month, with crude hitting a three-month low below $114 a barrel on Friday. But its path remains volatile, prompting some investors to remain cautious about the market.
The dollar's recent jump suggests to some that the health of the U.S. economy could improve. The U.S. economy began weakening before others and now that investors are seeing poor economic data from Europe and Asia, some think the United States is closer to a recovery than others.
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