Markets Right Now: Retail rebound leads stocks higher
NEW YORK (AP) — The latest on developments in financial markets (All times local):
9:35 a.m.
Stocks are opening higher on Wall Street following some encouraging results from retailers.
Urban Outfitters soared 23 percent and Target rose 2.5 percent in the first few minutes of trading Wednesday after both companies reported earnings that were better than analysts were expecting.
That came as a welcome relief for the retail sector following dismal earnings reports a day earlier from Dick’s Sporting Goods and Advance Auto Parts.
The Standard & Poor’s 500 index rose 6 points, or 0.2 percent, to 2,470.
The Dow Jones industrial average rose 50 points, or 0.2 percent, to 22,049. The Nasdaq composite climbed 14 points, or 0.2 percent, to 6,346.