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U.S. stock indexes climb on strong retail earnings reports

Specialist Dilip Patel, right, works with traders on

Specialist Dilip Patel, right, works with traders on the floor of the New York Stock Exchange, Tuesday, May 23, 2017. Credit: AP / Richard Drew

A strong batch of earnings from retailers including Best Buy sent stock prices higher in early trading Thursday. The market has risen for five straight days. If it closes higher again on Thursday it will mark the longest streak of gains in three months.

ON WALL STREET: At midmorning, the Standard & Poor’s 500 index was up 9.6 points, about 0.4 percent, at 2,414.1. The Dow Jones industrial average rose 75.5 points, about 0.4 percent, to nearly 21,088, and the Nasdaq composite gained 32.3 points, about 0.5 percent, to 6,195.4.

MAKING MOVES: Best Buy soared 12 percent early Thursday after reporting earnings and sales that came in well ahead of what analysts were expecting.

Williams-Sonoma gained 3.9 percent and PVH, which owns Calvin Klein and Tommy Hilfiger, rose 5.4 percent.

OIL PRICES: At midmorning, the price of U.S. benchmark crude was down 23 cents at $51.13 a barrel on the New York Mercantile Exchange. In London on the Intercontinental Exchange Europe, the price of Brent crude was down 16 cents a barrel at $53.80.

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