Retailers up sharply for 2nd day after upbeat results
Main U.S. indexes gain; Dow out front, up ~0.8%
Cons disc leads S&P 500 sector gainers; Comm Svcs weakest group
Dollar rallies; bitcoin, crude, gold all add >1%
U.S. 10-Year Treasury yield edges down to ~4.41%
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RETAILERS UP SHARPLY FOR 2ND DAY AFTER UPBEAT RESULTS
Mostly upbeat quarterly results from U.S. retailers in recent days have driven up industry shares, putting the SPDR S&P 500 retail exchange-traded fund XRT.P up more than 4% since Wednesday's close.
The ETF is up 2.6% on Friday, outperforming the benchmark S&P 500 .SPX, which is up just 0.3%.
Among the biggest positives in the retail space, shares of Gap Inc GAP.N are up 12.4% on Friday. The retailer late Thursday raised its annual sales forecast and said the holiday season was off to a "strong start."
Also rallying after posting results and a forecast late Thursday is Ross Stores ROST.O. Its shares are up 2.0% after the company raised its annual profit forecast.
Shares of Macy's M.N are up 7.6% on Friday, while shares of Walmart WMT.N, which reported upbeat results earlier this week, are up 2.3%, and Kohl's KSS.N is up 4.3%.
Both Macy's and Kohl's are due to report their quarterly results next week, essentially rounding out the most recent earnings season.
Walmart on Tuesday raised its annual sales and profit forecast for the third consecutive time.
Shares of Target TGT.N are also up 3% on Friday, even though the stock sank after it forecast Wednesday holiday-quarter comparable sales and profit below Wall Street expectations and it missed third-quarter estimates.
(Caroline Valetkevitch)
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