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Retailers lead US stocks mostly higher after a four-day rout; Bond yields edge lower
NEW YORK, N.Y. – Stocks are closing mostly higher on Wall Street after better results from Best Buy and other retailers.
Bond yields, which had been rising sharply in recent days, pulled back Tuesday, bringing relief to investors worried about higher interest rates.
The Standard & Poor’s 500 index rose six points, or 0.4 per cent, to 1,652 points. The S&P ended a four-day losing streak.
The Dow Jones industrial average lost seven points, or 0.05 per cent, to 15,003. The Dow fell for a fifth straight day, its longest losing streak of the year.
The Nasdaq rose 24 points, or 0.7 per cent, to 3,613.
Best Buy and Urban Outfitters rose sharply after reporting higher income.
Three stocks rose for every one that fell on the New York Stock Exchange. Trading volume was light.
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