Stocks up slightly on strong retail results

Stocks up slightly on strong retail results

Credit: AP

FILE - In this May 27, 2007 file photo, a customer shops at a Gap store in Palo Alto, Calif. Gap is taking a lot of flak online for stealthily swapping out its decades-old white-on-navy blue logo. (AP Photo/Paul Sakuma, File)

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Associated Press

Posted on August 17, 2012 at 10:00 AM

Updated Friday, Aug 17 at 5:01 PM

Some positive news from retailers boosted stocks just a little.

The Dow Jones industrial average rose 25 points to close at 13,275. The Standard & Poor's 500 index rose almost three points to close at 1,418. The Nasdaq rose 14 points to close at almost 3,077.

Retail stocks rose on positive earnings and outlooks from Gap Inc. and Ann Inc., the parent of retailer Ann Taylor.

Apple hit a new high, rising almost 2 percent to $648.11.

However, declines continued for Facebook and Groupon, the online coupon company.

Facebook hit $19, half the value of its initial public offering. It closed at $19.07. And Groupon, the online coupon company, lost another 5 percent to close at $4.75.

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