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Wall Street edges higher as retail stocks gain


By Medha Singh(Reuters) - Wall Street edged higher on Wednesday as Macy's strong results helped drive gains in retails stocks and more than offset losses in energy shares.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.The consumer discretionary index rose 0.61 percent, providing the biggest boost to the S&P 500 index.However, a fall in oil prices and growing doubts about ...

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First Published: Wed, May 16 2018. 19:48 IST