* Home Depot, Best Buy shares rise after results
* Investors looking to Fed minutes due Wednesday
* Indexes up: Dow 0.4 pct; S&P up 0.7 pct, Nasdaq up 0.9 pct
By Angela Moon
NEW YORK, Aug 20 U.S. stocks rose on Tuesday,
boosted by major retailers Home Depot and Best Buy Co
on positive profits and outlooks, after the market's
longest losing streak this year.
But gains were capped as prices of U.S. Treasuries advanced
after a recent slump pushed yields to two-year highs,
encouraging investors to dump riskier assets like stocks and buy
relatively cheap U.S. government debt. The yield on the
benchmark 10-year note dipped to 2.83 percent after hitting 2.88
percent on Monday, a two-year high.
"Stocks are rebounding today but we are seeing a lot of
market swings because of the concerns on Fed tapering, so I
wouldn't be surprised if we ended flat or lower by the end of
the day," said Randy Frederick, managing director of active
trading and derivatives at the Schwab center for financial
research Austin, Texas.
Investors are now awaiting minutes, due on Wednesday, of the
U.S. central bank's most recent meeting. Those minutes could
help investors better understand the mind-set of policymakers as
they consider weaning the world's biggest economy off the
so-called quantitative easing program.
Best Buy, Home Depot and J.C. Penney led a string of
retailers posting results, sending their shares up in early
trading. Consumer-focused shares had recently been battered as
many earlier reports on retailers' sales failed to impress
The S&P closed lower on Monday at 1,646.06, below its 50-day
moving average for a second straight day and at its lowest since
The Dow Jones industrial average was up 60.02 points,
or 0.40 percent, at 15,070.76. The Standard & Poor's 500 Index
was up 11.35 points, or 0.69 percent, at 1,657.41. The
Nasdaq Composite Index was up 32.57 points, or 0.91
percent, at 3,621.65.
TJX Cos, the owner of the discount T.J. Maxx and
Marshalls chains, reported better-than-expected quarterly sales,
bucking a trend of weak results at a host of retailers. Its
shares gained 5.7 percent to $53.65.
Home Depot shares rose 0.2 percent to $75.33 after
the world's largest home improvement chain raised its yearly
Shares of Best Buy jumped 9 percent to $33.51 after
the world's largest consumer electronics chain reported a higher
Urban Outfitters shares gained 10.1 percent $43.95
one day after the apparel retailer's quarterly profit beat
J.C. Penney shares gained 3.1 percent to $13.63
after the troubled retailer said the back-to-school season has
so far been "encouraging."
But Barnes & Noble shares tumbled more than 15
percent to $14.07 after the book retailer reported a steeper
quarterly loss and its founder dropped his plan to buy the
China-based Trina Solar reported a smaller quarterly
loss as it shipped more solar panels to newer markets and
diversified sources of revenue. Its shares rose 8.6 percent to