U.S. stocks edge higher on improving retail sales

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Source: Dukascopy Bank SA
U.S. stocks advanced, with the Standard & Poor's Index climbing for a fourth consecutive day, as retailers rallied on rising sales in March and the applications for unemployment benefits dropped more than expected. The S&P 500 Index surged 0.4% to 1,593.37. All but one group in the index edged higher. GameStop Corporation, a developer of electronic game and PC entertainment software, was the best performing blue-chip company, as it finished 6% higher at $31.68. Ross Stores Inc. supported a rise in the consumer services sector, as the retailer added 5.9% on higher than expected retail sales in March. J.C. Penney Inc. rebounded from losses earlier this week, as one of the investors said the company plans to change the strategy of reducing discounts and to put in place coupon advertising instead of it to bolster sales. Hewlett-Packard Company weighed on tech shares, as it slumped 6.5% as its PC sales are suffering from growing tablet market.

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