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Dan Loeb gets soft, Bloomberg and traders are 'Spy vs. Spy,' and Wal-Mart torpedos a cooperative reform effort by choosing its own, awkward path.

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5 Things To Know About Small Business This Week: May 17

PayPal announces "Cash for Registers;" small-business optimism improves; Kabbage expands financing to bricks-and-mortar businesses; restaurants tapping into big breakfast opportunity; GoDaddy launches restaurant-specific Web site designs.

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NEW YORK (TheStreet) -- Major U.S. markets closed higher Friday, led by energy stocks, after a consumer confidence gauge reached to a post-crisis high and an upbeat report on U.S. economic activity bolstered the outlook for the world's largest economy.

The S&P 500 gained 1% to 1,666.12.

"The rise in consumer confidence appears to be a longer-lasting vote of support for the longevity of the U.S. economic recovery," Andrew Wilkinson, the New York City-based chief economic strategist at Miller Tabak & Co., wrote in a report.

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