By Anora Mahmudova and Carla Mozee, MarketWatch
NEW YORK (MarketWatch) -- The U.S. stock market opened higher
Wednesday, led by gains in the health-care and technology
sectors.
The gains were broad-based, with even consumer plays up despite
softer-than-expected retails sales data as well as disappointing
quarterly results from retailers such as Macy's Inc. and Fossil
Group Inc.
The Dow Jones Industrial Average (DJI) added 102 points, or
0.6%, to 16,639.
The S&P 500 (SPX) climbed 13 points, or 0.7%, to 1,947.
Amazon.com Inc. led gains, while retailers were among the biggest
decliners.
Also read: Retailer shares take a beating.
The Nasdaq Composite (RIXF) added 39 points, or 0.9%, at
4,428.
Sales at U.S. retailers were unchanged in July, the weakest
result in six months, as sales fell at auto dealers, but rose at
gas stations and food and beverage stores, according to government
data released Wednesday.
Individual stocks
Amazon.com Inc.(AMZN) climbed as the company launched a new
mobile payment service using a smartphone or tablet. Also read: For
retailers, Amazon is sexier than eBay
Shares of Macy's Inc. (M) fell following a disappointing outlook
and second-quarter sales that fell short of estimates.
Shares of SeaWorld Entertainment Inc. (SEAS) plunged after the
theme-park operator reported second-quarter results fell short and
the company cut its full-year sales outlook.
King Digital Entertainment (KING) sank after disappointing
quarterly results from the "Candy Crush" triggered a wave of
ratings downgrades from analysts. (Read more about the day's
notable movers here:
http://www.marketwatch.com/story/king-macys-among-stocks-to-watch-wednesday-2014-08-13.)
Networking-gear maker Cisco Systems (CSCO) will release results
after the close of Wednesday's trading session.
Elsewhere, oil futures (CLU4) fell, and gold futures (GCZ4)
rose. Asian markets overnight closed higher, with Hong Kong's Hang
Seng climbing 0.8%. In the U.K., the pound (GBPUSD) dropped sharply
against the U.S. dollar as prospects dimmed for an interest-rate
hike before the end of the year.
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