Thursday, May 14, 2009
Hard-hit retail stocks are drawing investors into the market as some profit reports didn't turn out as bad as feared.
But the buying is subdued Thursday following a worse-than-expected weekly unemployment report. A retreat this week has interrupted a two-month rally that emerged as investors found early signs the economy could be stabilizing.
Retailers like Macy's, Kohl's and Best Buy are rising as investors search for bargains.
In midday trading, the Dow Jones industrial average is up 36 at 8,321. The Standard & Poor's 500 index is up 7 at 891, and the Nasdaq composite index is up 22 at 1,686.