US STOCKS-Wall St edges up as small-caps bounce back
* Russell 2000 rebounds after approaching correction territory again
* J.C. Penney, Nordstrom soar a day after results
* Dow up 0.3 pct; S&P 500 up 0.4 pct; Nasdaq up 0.5 pct (Updates to late afternoon)
By Caroline Valetkevitch
NEW YORK, May 16 (Reuters) - U.S. stocks rose in late trading on Friday as small-cap names bounced back after recent weakness and consumer discretionary shares advanced.
The Russell 2000 gained 0.4 percent, rebounding after once again approaching correction territory, defined as a 10 percent drop from a recent high, earlier in the session.
The S&P 500 climbed back above its 50-day moving average near 1,868, an area that has served as support.
The week has been marked by weakness in small caps, however, with the Dow and S&P 500 still on track for slight declines for the week.
"The market's held in, and I think technically there's a sense it didn't break down. People came in expecting it was going to be another day like yesterday and the fact (is) it didn't turn out like that at all," said Ken Polcari, director of the NYSE floor division at O'Neil Securities in New York. Continuación...