Gains in retail stocks send market higher in early trade

AP News
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Posted: Nov 20, 2015 9:44 AM
Gains in retail stocks send market higher in early trade

NEW YORK (AP) — Big gains by retailers are lifting the stock market in early trading.

Ross Stores led the way higher early Friday, gaining 9 percent after reporting results that were far better than analysts were expecting.

Nike jumped 5 percent after announcing a dividend increase, a stock buyback and a stock split.

The Dow Jones industrial average rose 123 points, or 0.7 percent, to 17,854 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index rose 11 points, or 0.6 percent, to 2,093. The Nasdaq composite climbed 25 points, or 0.5 percent, to 5,099.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.23 percent.