By Medha Singh
Macy's rose 5.7 percent after reporting a much better-than-expected rise in same-store sales and quarterly profit in the first quarter. That helped shares of other retailers, including J. C. Penney, Kohl's and Nordstrom, which were all up between 1.5 percent and 3 percent.
North Korea threw next month's summit between Kim Jong Un and President Donald Trump into doubt, threatening weeks of diplomatic progress by saying it may reconsider if Washington insists it unilaterally gives up its nuclear weapons.
At 9:55 a.m. EDT the Dow Jones Industrial Average was up 44.59 points, or 0.18 percent, at 24,751.00, the S&P 500 was up 8.13 points, or 0.30 percent, at 2,719.58 and the Nasdaq Composite was up 26.33 points, or 0.36 percent, at 7,377.96.
The U.S. 10-year Treasury yield spiked above the key 3 percent level to its highest since July 2011 on Tuesday after the retail data.
Federal funds futures implied that traders saw a 54 percent chance that the U.S. Federal Reserve would raise rates for a fourth time by year-end.
Advancing issues outnumbered decliners by a 2.43-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 2.02-to-1 ratio on the Nasdaq.
The S&P index recorded nine new 52-week highs and two new lows, while the Nasdaq recorded 51 new highs and 19 new lows.
(Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva)
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