Stocks rise for fourth day in a row; tech lags

AP News
Posted: Apr 11, 2013 11:57 AM
Stocks rise for fourth day in a row; tech lags

NEW YORK (AP) — Retail stocks are leading the market higher in midday trading after several of those companies turned in better sales reports for March.

It was the fourth day of advances on Wall Street.

Technology stocks lagged the market Thursday following a sharp drop in PC shipments in the first quarter of the year.

The Dow Jones industrial average was up 56 points, or 0.4 percent, to 14,859 at midday. It jumped 128 points the day before.

The Standard & Poor's 500 index was up six points, or 0.4 percent, at 1,593.

The technology-heavy Nasdaq composite index inched up one point, just 0.05 percent, to 3,298.

Rite Aid, Ross Stores and other retail stocks rose after turning in better sales.

Microsoft, Hewlett-Packard and Intel slumped because of the drop in PC shipments.