Stocks open slightly higher after retail sales, weekly unemployment reports, Wal-Mart earnings
By Stephen Bernard, APThursday, August 13, 2009
Stocks creep higher after jobs, retail data
NEW YORK — Stocks are pushing moderately higher after a better-than-expected earnings report from Wal-Mart helped to offset disappointing data on jobs and retail sales.
Investors are hesitantly adding to Wednesday’ big gains, which came after upbeat comments from the Federal Reserve. The slight advance comes despite new reports showing retail sales fell unexpectedly in July and more workers are filing for unemployment benefits.
A better-than-expected earnings report from Wal-Mart Stores is helping to lift stocks in early trading.
In the first few minutes of trading, the Dow Jones industrial average is up 10 at 9,372. The Standard & Poor’s 500 index is up 2 at 1,008, while the Nasdaq composite index is up 7 at 2,005.
Tags: New York, Retail And Wholesale Sector Performance