NEW YORK (AP) — Stocks rose broadly in afternoon buying and selling on Wall Street Thursday as buyers cheered a powerful set of quarterly outcomes from Macy’s and different retailers.
The S&P 500 rose 1.8% and is solidly within the inexperienced for the week following a uneven few days of buying and selling.
The gains have positioned the benchmark index for its first weekly achieve after seven straight losses.
The Dow Jones Industrial Average rose 1.5% and the Nasdaq rose 2.4%.
The better-than-expected reviews from retailers helped allay buyers’ worries concerning the sector, which took huge losses final week after Target and Walmart reported dismal outcomes.
Bond yields rose.