Markets Right Now: Stocks inch higher as retailers recover

NEW YORK — The latest on developments in financial markets (All times local):

4:00 p.m.

Stocks are closing modestly higher on Wall Street as retailers including Urban Outfitters and Target climb.

The gains Wednesday were a reversal for the volatile retail sector, which fell sharply a day earlier.

Urban Outfitters soared 17.5 percent and Target rose 3.3 percent after both companies reported results that were better than analysts were expecting.

Health care and technology companies are also rose. Biogen rose 2.1 percent and Micron Technology rose 3.4 percent.

Energy companies lagged the rest of the market. The price of crude oil fell.

The Standard & Poor's 500 index rose 3 points, or 0.1 percent, to 2,468.

The Dow Jones industrial average increased 25 points, or 0.1 percent, to 22,024. The Nasdaq composite climbed 12 points, or 0.2 percent, to 6,345.

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11:45 a.m.

U.S. stocks are rising as retailers recover some of the ground they lost a day earlier.

Urban Outfitters soared 17 percent and Target rose 3.2 percent Wednesday after both companies reported results that were better than analysts were expecting.

Health care and technology companies are also trading higher. Biogen rose 2.6 percent and Cisco Systems rose 1 percent.

Energy companies are lagging the rest of the market. The price of crude oil fell.

The Standard & Poor's 500 index rose 8 points, or 0.3 percent, to 2,472.

The Dow Jones industrial average increased 70 points, or 0.3 percent, to 22,069. The Nasdaq composite climbed 30 points, or 0.5 percent, to 6,362.

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9:35 a.m.

Stocks are opening higher on Wall Street following some encouraging results from retailers.

Urban Outfitters soared 23 percent and Target rose 2.5 percent in the first few minutes of trading Wednesday after both companies reported earnings that were better than analysts were expecting.

That came as a welcome relief for the retail sector following dismal earnings reports a day earlier from Dick's Sporting Goods and Advance Auto Parts.

The Standard & Poor's 500 index rose 6 points, or 0.2 percent, to 2,470.

The Dow Jones industrial average rose 50 points, or 0.2 percent, to 22,049. The Nasdaq composite climbed 14 points, or 0.2 percent, to 6,346.

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