Retail bumps US stock market higher

Retail bumps US stock market higher

US stocks closed higher on Monday, keeping major indexes at record levels.

Retailers posted solid gains ahead of the holiday shopping season. Coach rose 2.6% after analysts at Stifel said the company was on the right track to strengthen its brand.

Big phone company stocks fell. Verizon lost 1.4% and AT&T declined 1.6%.

The Standard & Poor’s 500 index gained six points, or 0.3%, to 2,069.

The Dow Jones industrial average edged up seven points, less than 0.1%, to 17,817. The Nasdaq composite rose 41 points, or 0.9%, to 4,754.

The Dow and S&P 500 are at record highs.

Trading volume was light ahead of the Thanksgiving holiday on Thursday.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.30%.

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