partlycloudy
Sunday July 15th, 2018 5:17PM

Retailers help nudge US stocks higher in early trade

By The Associated Press
Related Articles
  Contact Editor

U.S. stock indexes are edging higher in early trading Wednesday, and Macy's is leading a retail sector rally. Food and beverage stocks and other consumer goods companies also posted gains. Energy stocks lagged as crude oil prices declined. Bond prices were little changed.

KEEPING SCORE: The S&P 500 index rose 7 points, or 0.3 percent, to 2,718 as of 10 a.m. Eastern Time. The Dow gained 35 points, or 0.1 percent, to 24,742. The Nasdaq composite added 30 points, or 0.4 percent, to 7,381. The Russell 2000 index of smaller-company stocks picked up 5 points, or 0.3 percent, to 1,605.

RETAIL RALLY: Macy's jumped 6.3 percent to $31.81 after reporting quarterly results that were far better than analysts were expecting. The company said its Bloomingdale's and Bluemercury divisions as well as its flagship store brand all did well. Several other department store chains also moved higher. Norstrom added 0.6 percent to $50.16, while L Brands gained 2.4 percent to $34.12.

FIDO APPROVED: Abaxis vaulted 15.3 percent to $82.74 after the veterinary diagnostic products company agreed to be acquired by Zoetis.

BOND YIELDS: Bond prices were little changed. The yield on the 10-year Treasury held at 3.07 percent. On Tuesday, the yield climbed to its highest level in nearly seven years.

ENERGY: Benchmark U.S. crude oil gave up 38 cents to $70.93 per barrel in New York. Brent crude, used to price international oil, shed 52 cents to $77.91 a barrel in London.

The slide in crude prices pulled down energy stocks. Phillips 66 shed 1.7 percent to $116.35.

CURRENCIES: The dollar fell to 110.19 yen from 110.38 yen on Tuesday. The euro weakened to $1.1798 from $1.1847.

MARKETS OVERSEAS: Major indexes in Europe rose. Germany's DAX gained 0.3 percent, while France's CAC 40 added 0.2 percent. Britain's FTSE 100 rose 0.1 percent. In Asia, Japan's Nikkei 225 stock index lost 0.4 percent following new data showing that Japan's economy contracted in the first quarter. The Kospi in South Korea was essentially flat. Hong Kong's Hang Seng slipped 0.1 percent.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets, AP Business - Industries, AP Business - Utilities
© Copyright 2018 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Wedding practice: Rehearsal of royal nuptials due in Windsor
Royal wedding organizers prepare rehearsal of the proceedings to take place in Windsor
5:46AM ( 5 minutes ago )
Burundi votes in referendum on the president's power
Burundi votes in a referendum proposing constitutional changes that could extend the president's rule until 2034
5:27AM ( 25 minutes ago )
Asian stocks mostly lower as investors digest US, Japan data
Asian stocks mostly lower as investors digest US, Japan data
5:08AM ( 43 minutes ago )
Associated Press (AP)
Turkey slams US sentencing of Turkish banker on Iran scheme
Turkey's foreign ministry has slammed the sentencing of a Turkish banker in the United States over his role in helping Iran evade U.S. economic sanctions.
4:12AM ( 1 hour ago )
Alaska dive fishermen plead for relief from sea otters
Sea otters have come back from the brink of extinction along Alaska's Panhandle but fishermen who target shellfish are seeking relief from their voracious appetites
12:40AM ( 5 hours ago )
Returning otters to undersea world failing in their absence
Despite decades of government protection, southern sea otters on West Coast still only occupy about a fraction of their historic range.
12:38AM ( 5 hours ago )
AP Business
New Zealand to spend billions on fixing hospitals, schools
New Zealand's government plans to spend billions of dollars rebuilding rotting hospitals and improving other infrastructure as the economy continues to grow at a healthy clip
12:16AM ( 5 hours ago )
In veiled shot at Trump, Tillerson warns democracy at risk
In veiled shot at Trump, Tillerson warns American freedom, democracy at risk
11:39PM ( 6 hours ago )
Macy's sees robust mobile, online sales as profits soar
Macy's sees robust mobile, online sales as it beats profit and revenue expectations for the first quarter
6:53PM ( 10 hours ago )
AP Business - Economy
US stocks veer higher in midday trade; oil slides
U.S. indexes rose in afternoon trading, led by gains in big technology names, health care companies and retailers. Macy's led a rally among retailers.
12:47PM ( 17 hours ago )
US stocks veer mostly higher in morning trade; oil slides
U.S. stock indexes are edging mostly higher in morning trading as gains in health care companies and retailers outweigh losses in banks and utilities
11:43AM ( 18 hours ago )
Retailers help nudge US stocks higher in early trade
U.S. stock indexes are edging higher in early trading, and Macy's is leading a retail sector rally.
10:11AM ( 19 hours ago )
AP Business - Financial Markets
British cyber expert's attorney says FBI deceived him
Attorneys for a British cybersecurity expert credited with stopping a worldwide computer virus last year told a federal judge Wednesday that the FBI agents who arrested him for allegedly creating malware used deception when interrogating him
8:52PM ( 8 hours ago )
House OKs expansion of private care at VA, budget crisis fix
House votes to give veterans more freedom to see doctors outside the Veterans Affairs health system
8:33PM ( 9 hours ago )
House OKs expansion of private care at VA, fix budget crisis
House votes to give veterans more freedom to see doctors outside the Veterans Affairs health system
6:47PM ( 11 hours ago )
AP Business - Industries
Lawsuit contends energy lease sales will affect environment
Environmental groups and Montana landowners are suing to cancel the U.S. government's sale of 287 oil and gas leases on federal land in the state
4:34PM ( 1 day ago )
Europe, Iran seek to save nuclear deal after US pullout
Major European powers sought Tuesday to keep Iran committed to a deal to prevent it from building a nuclear bomb despite deep misgivings about Tehran's Middle East politics and U.S. President Donald Trump's vehement opposition
2:27PM ( 1 day ago )
US retail sales up solid 0.3 pct. in April in hopeful sign
US retail sales rose a solid 0.3 pct. in April, a sign confident consumers are spending more
11:13AM ( 1 day ago )
AP Business - Utilities
Wedding practice: Rehearsal of royal nuptials due in Windsor
Royal wedding organizers prepare rehearsal of the proceedings to take place in Windsor
5:46AM ( 5 minutes ago )
Asian stocks mostly lower as investors digest US, Japan data
Asian stocks mostly lower as investors digest US, Japan data
5:08AM ( 44 minutes ago )
AP Interview: Anwar wants Malaysia to scrap race policies
Pardoned Malaysian politician Anwar Ibrahim says decades-old affirmative action policies for the country's Malay majority must be discarded in favor of a new program to help the poor regardless of race
4:47AM ( 1 hour ago )
EU demands an end to Trump tariff threats
The European Union is calling for an end to U.S. President Donald Trump's threats to slap tariffs on EU steel exports as a new deadline looms for the duties to enter force
4:41AM ( 1 hour ago )
On eve of anniversary, Giuliani says time for probe to end
Trump attorney Rudy Giuliani urges special counsel's team to wrap up investigation on eve of anniversary
4:21AM ( 1 hour ago )