US STOCKS-Wall Street drifts to another record in light trading

miércoles 27 de agosto de 2014 16:33 GYT
 

* S&P 500 edges up to close at new record

* Tiffany rises after results, Chico's falls

* Dow up 0.09 pct, S&P up 0.01 pct, Nasdaq off 0.02 pct (Updates to close, adds quote)

By Chuck Mikolajczak

NEW YORK, Aug 27 (Reuters) - U.S. stocks were little changed on Wednesday, with the S&P 500 creeping up to another record closing high in a lethargic session, though a number of retail stocks traded heavily after reporting results.

Both Tiffany & Co and apparel retailer Express Inc rose after posting quarterly revenue that topped expectations and raising their full-year profit views.

Shares of Tiffany rose 1 percent to $101.75 while Express jumped 12.7 percent to $16.45 on volume that easily eclipsed its 50-day average.

Best Buy Co Inc was the S&P 500's biggest percentage gainer, up 6.3 percent at $31.69. The electronics retailer rebounded from a 6.8 percent plunge on Tuesday after it forecast a drop in full-year sales.

The S&P retail index edged up 0.1 percent. After a sluggish start to the year, the index is up 8.4 percent for August, on pace for its best month since October 2011.   Continuación...