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Indexes up: Dow 0.02%, S&P 500 0.09%, Nasdaq 0.08%

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Charter Communications ( CHTR ) rises after co to buy Cox

Communications

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UnitedHealth ( UNH ) up after dropping 11% on Thursday

(Updates after markets open)

By Shashwat Chauhan and Pranav Kashyap

May 16 (Reuters) - Wall Street's main indexes were

subdued on Friday, but were still on track for robust weekly

gains buoyed by a U.S.-China tariff truce and cooling inflation,

while focus was on a pivotal vote on President Donald Trump's

tax legislations.

U.S. equities lost some steam after a measure of consumer

sentiment by the University of Michigan slipped to 50.8 for May,

compared with April's 52.2, while one-year inflation

expectations surged to 7.3% from 6.5%.

House Budget Committee Chairman Jodey Arrington cautioned

that Friday's planned vote on the tax bill might be delayed due

to opposition to the measure.

At 10:10 a.m. the Dow Jones Industrial Average rose

7.64 points, or 0.02%, to 42,330.39, the S&P 500 gained

5.46 points, or 0.09%, to 5,922.39 and the Nasdaq Composite

gained 15.17 points, or 0.08%, to 19,127.49.

All three main indexes were poised for weekly gains.

The market found its footing earlier in the week, rallying

on Monday and Tuesday after Washington and Beijing agreed to a

90-day pause in their escalating trade war.

As a result, the S&P 500 catapulted back into the

green year-to-date - the first time it is in positive territory

since late February. Still, the benchmark index remains about 4%

shy of its all-time peak.

"The combination of a deal with the UK and taking a step

back from the untenable China tariffs certainly lays out a road

map that we can get multiple bilateral trade deals accomplished

and that's the largest of the positive catalyst," said Art

Hogan, chief market strategist at B Riley Wealth.

Trump and British Prime Minister Keir Starmer had announced

a limited bilateral trade agreement last week.

Data from earlier in the week showed U.S. retail sales

growth losing steam in April, while consumer prices staged a

moderate rebound.

Focus would also be on comments from Federal Reserve

policymakers, with at least two officials including Richmond Fed

President Thomas Barkin slated to speak throughout the day.

Most megacap and growth stocks swung higher, with Alphabet

leading gains with a 2.4% rise.

Big Tech was one of the biggest drivers on Wall Street this

week. The information technology sector was heading

towards an 8% gain, a weekly jump echoing the surge seen when

traders first seized on clear signals the White House was ready

to dial back its trade hostilities with Beijing.

Shares of UnitedHealth ( UNH ) rose 1.4% after a near 11%

drop in the last session, when the stock was rocked after a

report the U.S. Department of Justice had begun a criminal

investigation into the insurer.

Applied Materials ( AMAT ) slipped 6.6% after the chipmaking

equipment maker missed estimates for second-quarter revenue.

Charter Communications ( CHTR ) rose 3% after the media

company said it would buy privately held rival Cox

Communications for $21.9 billion.

Advancing issues outnumbered decliners by a 1.38-to-1 ratio

on the NYSE and by a 1.29-to-1 ratio on the Nasdaq.

The S&P 500 posted 13 new 52-week highs and no new lows

while the Nasdaq Composite recorded 42 new highs and 42 new

lows.