All 3 major U.S. indices rose today after retailers such as Target and Lowe's reported strong earnings, lifting investor sentiment. The Dow climbed 0.93% as the S&P popped 0.83% and Nasdaq climbed 0.9%.
div > div.group > p:first-child"> The Dow Jones Industrial Average closed 241 points higher, or 0.9%. The S&P 500 gained 0.8%. The Nasdaq Composite jumped 0.9%. The major indexes held on to their gains even after the bond market flashed a recession signal in the last hour of trading.
Target shares surged more than 20% to a record after the retailer posted second-quarter results that topped analyst expectations. The company's same-store sales, a key metric for retailers, expanded by 3.4%. Analysts expected growth of 2.9%. The Dow is down more than 2% in August amid worries over a possible recession. The S&P 500 and Nasdaq Composite have both lost more than 1.5% this month. Gold, meanwhile, has jumped more than 5% this month while the benchmark 10-year Treasury yield is down about 40 basis points, or 0.4 percentage points.
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