US stocks rise, breaking a four-day losing streak
NEW YORK (AP) — The stock market is up after a four-day slump following better results from Best Buy and other retailers.
Bonds yields, which had been rising sharply for the last several days, pulled back, bringing relief to investors worried about higher interest rates.
The Dow Jones industrial average was up 44 points, or 0.3 percent, to 15,056 shortly before noon Eastern Daylight Time.
The Standard & Poor’s 500 index rose nine points, or 0.6 percent, to 1,655. The Nasdaq composite rose 26 points, or 0.7 percent, to 3,615.
Best Buy and Urban Outfitters rose sharply, leading an advance in the retail sector, after reporting higher income. Best Buy rose 9 percent, Urban Outfitters rose 10 percent.
The yield on the 10-year Treasury note fell to 2.82 percent from 2.88 percent late Monday.