Stocks rise broadly on gains from retailers including Macy’s

Wall StreetNEW YORK (AP) — Stocks rose broadly in afternoon trading on Wall Street Thursday as investors cheered a strong set of quarterly results from Macy’s and other retailers.

The S&P 500 rose 1.8% and is solidly in the green for the week following a choppy few days of trading.

The gains have positioned the benchmark index for its first weekly gain after seven straight losses.

The Dow Jones Industrial Average rose 1.5% and the Nasdaq rose 2.4%.

The better-than-expected reports from retailers helped allay investors’ worries about the sector, which took big losses last week after Target and Walmart reported dismal results.

Bond yields rose.

Categories: National News