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Retailers Push US Stocks to 6-Day Gains05/25 09:14

   U.S. stocks are climbing for the sixth day in a row Thursday as strong 
quarterly results from retailers including Best Buy, Williams-Sonoma and PVH 
give consumer-focused companies a lift. The Standard & Poor's 500 index and 
Nasdaq composite are trading at all-time highs.

   NEW YORK (AP) -- U.S. stocks are climbing for the sixth day in a row 
Thursday as strong quarterly results from retailers including Best Buy, 
Williams-Sonoma and PVH give consumer-focused companies a lift. The Standard & 
Poor's 500 index and Nasdaq composite are trading at all-time highs. Stocks are 
stretching for their longest winning streak in three months.

   KEEPING SCORE: The Standard & Poor's 500 index advanced 8 points, or 0.4 
percent, to 2,412 as of 10 a.m. Eastern time. It set an all-time high 
Wednesday. The Dow Jones industrial average gained 73 points, or 0.4 percent, 
to 21,085. The Nasdaq composite jumped 24 points, or 0.4 percent, to 6,186, 
above the record it notched last week. The Russell 2000 index of small-company 
stocks gained 7 points, or 0.5 percent, to 1,389.

   BUY, BUY, BUY: Electronics retailer Best Buy jumped after it issued a strong 
first-quarter report, including better sales of mobile devices and gaming 
products. Its stock gained $7.19, or 14.3 percent, to $57.61. PVH, the owner of 
brands including Calvin Klein and Tommy Hilfiger, climbed $4.75, or 4.7 
percent, to $106.79 after it raised its annual forecasts in the wake of its own 
strong report. Home furnishings company Williams-Sonoma beat Wall Street 
estimates and rose $1.35, or 2.7 percent, to $50.99. Jeans maker Guess leaped 
$1.38, or 13.8 percent, to $11.36 after its announcement.

   Abercrombie & Fitch, Burlington Stores, and Shoe Carnival all made 
substantial gains.

   OIL: Crude oil prices declined for the second day in a row as the members of 
OPEC and other key oil-producing nations met in Vienna to discuss extending 
their production cut from last year. Oil prices have rallied over the last few 
weeks as investors expected the cut to be extended, which would shore up 
prices. Benchmark U.S. crude lost 20 cents to $51.16 a barrel in New York and 
Brent crude, the international standard, fell 14 cents to $53.82 a barrel in 
London. However energy companies traded higher.

   TALKING TURKEY: Spam maker Hormel Foods sank as the company said its 
Jennie-O turkey business continued to struggle in the second quarter. The 
company's income and sales both fell short of Wall Street projections. Hormel's 
stock gave up $1.71, or 4.8 percent, to $33.69.

   BONDS: Bond prices were little changed. The yield on the 10-year Treasury 
note held at 2.25 percent.

   CURRENCIES: The dollar dipped to 111.76 yen from 111.90 yen. The euro rose 
to $1.1213 from $1.1195.

   OVERSEAS: Germany's DAX was down 0.2 percent. The French CAC 40 and the FTSE 
100 index in Britain were unchanged. The Nikkei 225 index in Tokyo climbed 0.4 
percent and Hong Kong's Hang Seng rallied 0.8 percent. The Kospi of South Korea 
jumped 1 percent.


(KA)

 
 
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