US STOCKS-Wall St rallies broadly, Dow again positive for 2014

miércoles 13 de agosto de 2014 13:17 GYT
 

* Retail stocks slip after soft economic data, Macy's outlook

* Amazon boosts Nasdaq after introducing card device

* Dow up 0.5 pct; S&P 500 up 0.7 pct; Nasdaq up 0.9 pct (Updates to midday)

By Ryan Vlastelica

NEW YORK, Aug 13 (Reuters) - U.S. stocks rose on Wednesday, with the Dow returning to positive territory for the year as signs of easing tensions in Ukraine overshadowed weak readings on consumer spending.

The day's gains were broad, with all 10 primary S&P 500 sector indexes gaining. About 71 percent of stocks traded on the New York Stock Exchange were higher for the day, while more than 60 percent of Nasdaq-listed names rose.

Wall Street has been largely driven by the news flow from abroad, and signs of progress in Ukraine were enough to offset some cautious signals in the United States, including a disappointing reading on July retail sales and a reduction in Macy's outlook.

With the day's advance, the S&P 500 is 2.1 percent below its record closing high reached in late July. Throughout 2014, investors have been using market pullbacks as opportunities to add to their positions.

"The market seems comfortable with what's going on abroad, and while there's always a risk of escalation, which would give the market pause, trying to anticipate that is pure speculation," said David Lebovitz, global market strategist at J.P. Morgan Funds in New York.   Continuación...