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NEW YORK (Reuters) – The S&P 500 and Nasdaq indexes were modestly higher on Wednesday, led by gains among retailers after a bullish outlook from Target, but Europe's debt crisis kept investors cautious. Discount chain Target Corp (TGT.N) jumped nearly 4 percent to $55.62 after it forecast its best same-store sales in three years during the upcoming holiday season. The outlook sparked a 1 percent rise in the S&P retail index (.RLX). Costco Wholesale Corp (COST.O), another major retailer, was one of the top percentage gainers on the Nasdaq 100 (.NDX), rising 2 percent to $67.04. It was the market's second day of positive news from retailers. Wal-Mart Stores Inc (WMT.N) and Home Depot Inc (HD.N) raised their profit forecasts for the year on Tuesday. But the overall market struggled to rebound from a drop of nearly 2 percent on Tuesday as investors kept a close eye on the situation in Ireland. Dublin agreed to work with a European Union-International Monetary Fund mission on urgent steps to shore up its shattered banking sector. "I think the market is in a deterioration trend. It's worrisome at this point, considering that we had a selloff yesterday with pretty big volume and poor advance-decline numbers," said Frank Gretz, market analyst and technician at the Shields & Co brokerage in New York. "The market is certainly vulnerable, and I think it is in fact headed for a correction." The Dow Jones industrial average (.DJI) was down 0.03 points, or 0.00 percent, at 11,023.47. The Standard & Poor's 500 Index (.SPX) was up 2.48 points, or 0.21 percent, at 1,180.82. The Nasdaq Composite Index (.IXIC) was up 13.91 points, or 0.56 percent, at 2,483.75. The S&P 500 is up 6.5 percent from a year ago. Commodity prices fell after the Chinese government said it will take forceful measures to stabilize consumer prices, which is expected to slow demand in the fast-growing economy. U.S. crude oil futures were down 2.6 percent at $80.17 per barrel, and shares of aluminum producer Alcoa Inc (AA.N) fell 0.8 percent to $12.93, weighing on the Dow. The CBOE Volatility index (.VIX), Wall Street's so-called fear gauge, declined 4.7 percent but remained above 20. On Tuesday, it closed at its highest point since October 4, breaking above its 50-day moving average and facing resistance at the 200-day moving average. In the latest U.S. economic data, housing starts slumped to their lowest level in more than a year in October, while consumer prices rose, but the annual increase in core CPI was the smallest on record. General Motors Co (GM.UL) set the terms for a landmark initial public offering that could be the largest in U.S. history and raise up to $22.7 billion. The IPO is scheduled to debut on Thursday. (Reporting by Angela Moon; additional reporting by Doris Frankel; editing by Kenneth Barry and Jeffrey Benkoe) Tumble Blur (Delving Deeper) tracks.Reach song.Consumer Recreation.Quilted Jacket EP (REV015) mp3 songs download.Chain Reaction music downloads |
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