Stocks gain at midday on retail results
The U.S. stock market is slightly higher in midday trading as investors respond to encouraging results from several retailers.
Around noon on Wall Street, the Standard & Poor's 500 index had increased 25 points to 1,847.4. The Dow Jones industrial average was up 27.6 points, to 16,226, and the Nasdaq composite had climbed 10.6 points to 4,303.
Retailers J.C. Penney and Best Buy rose sharply after improving their performance in the latest quarter. Sears Holdings also rose.
J.C. Penney surged 24 percent after the department store chain swung to a small profit in the latest quarter following a massive loss in the same period a year earlier.
Best Buy climbed 5 percent after it also returned to profitability in the fourth quarter.
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