THE STANDARD& Poor’s 500 index rose as retailers and energy companies rallied, while economic data showing improvements in America overshadowed concern over weaker growth overseas.
Best Buy jumped 7.9 percent as demand for televisions and tablets helped the retailer post a surprise sales gain. Dollar Tree advanced 4.9 percent after raising its yearly earnings forecast and reporting thirdquarter earnings that beat analysts’ estimates. Energy stocks rose the most of 10 groups in the S&P 500 as Brent crude oil gained for the first time in four days.
The Standard & Poor’s 500 index rose 0.1 percent to 2 051.10 at 10.54am in New York, erasing an earlier loss.
The Dow Jones industrial average dropped 8.96 points, or less than 0.1 percent, to 17 676.77. The Russell 2000 index of smaller companies climbed 0.6 percent. Trading in S&P 500 companies was 18 percent below the 30-day average for this time of the day. – Bloomberg