Stocks edge higher after retail spending increases

AP News
Posted: Nov 20, 2013 11:51 AM
Stocks edge higher after retail spending increases

NEW YORK (AP) — Stocks are higher on Wall Street as investors react to a surprisingly big increase in U.S. retail sales last month and quarterly results from J.C. Penney and other retailers.

Investors were also waiting for minutes from the Federal Reserve's October policy meeting, which will be out later Wednesday afternoon.

The Dow Jones industrial average was up nine points, or 0.1 percent, to 15,976 as of noon Eastern. The broader Standard & Poor's 500 index was up three points, or 0.2 percent, to 1,791. The Nasdaq composite rose 13 points, or 0.3 percent, to 3,945.

J.C. Penney led the S&P 500 index higher with an 8 percent gain after reporting its first monthly sales increase since December 2011.

Lowe's lost 5 percent after its earnings fell short of analysts' forecasts.