BUSINESS

US stocks rise after a four-day slump; Best Buy, Urban Outfitters lead an advance in retailers

08/20/2013 11:47 EDT | Updated 10/20/2013 05:12 EDT
NEW YORK, N.Y. - 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 per cent, to 15,056 shortly before noon Eastern Daylight Time.

The Standard & Poor's 500 index rose nine points, or 0.6 per cent, to 1,655. The Nasdaq composite rose 26 points, or 0.7 per cent, 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 per cent, Urban Outfitters rose 10 per cent.

The yield on the 10-year Treasury note fell to 2.82 per cent from 2.88 per cent late Monday.