Friday, 26 May 2017

Wall Street gains on upbeat retail results- Daily Intraday Tips Provider

US stocks rose on Thursday, with the S&P 500 and Nasdaq Composite hitting new highs, helped by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers.

The discretionary index was up 1.2 percent, while the S&P 500 retail index was up 1.9 percent, on track for its best day since Nov. 7.

Best Buy jumped more than 22 percent, hitting a record high and making it the top gainer on the S&P, after its comparable sales unexpectedly rose last quarter.

Tommy Hilfiger owner PVH was the second-biggest S&P gainer with a 5.4-percent jump to a near 6-month high on strong results. Sears was up about 10 percent after posting its first quarterly profit in nearly two years.

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