Stocks ended the week in positive territory, eliminating the weekly loss for the Dow Jones industrial average thanks in part to Nike reporting better-than-expected quarterly results.

"The earnings outlook for the second quarter is still decent, and valuations aren't out of line. The only real shocker was GDP, but that was ancient history, and the rest of the data has been either neutral or moderately positive," Randy Frederick, managing director of active trading and derivatives at Charles Schwab, told CNBC.

Frederick added that the company is "clearly in a bull market and will continue to be until at least October, but we're at a point where we need a pullback" of possibly 3 to 5 percent.

Stocks were slightly lower most of the day Friday but edged out gains in the final 30 minutes of trading.

Consumer sentiment rose in June. The Thomson Reuters/University of Michigan consumer sentiment index rose from May's reading of 81.9 to June's reading of 82.5.

"Consumers believe the first quarter decline in economic activity was due to the harsh winter weather, and that the economy has already returned to positive economic growth," survey director Richard Curtin said in a statement.

After falling 21.38 points Thursday, the Dow gained 5.71 points Friday, or 0.03 percent.

The S&P 500, up 1.9 percent on the month, rose 3.74 points, or 0.2 percent, closing at 1,960.96. Technology stocks were the best-performing in the S&P 500.

More indicators of a healthy and strong economy comes from the CBOE Volatility Index (VIX), which fell to 11.26, down 3.2. When the VIX rises, it indicates investor uncertainty.

Stock News and Updates

NIKE helped the Dow edge to a positive close after the company reported better-than-expected quarterly results. The footwear and apparel company is enjoying World Cup success. More soccer players are wearing Nike shoes than shoes of all other companies combined.

Microsoft shares rose 1.27 percent, to $42.25 a share. That's just $0.04 from the 52-week high of $42.29.

DuPont shares fell over 3 percent after the chemicals supplier reduced its operating profit outlook for the second quarter and the full year.