Policy: Economy

US stocks edge higher; Best Buy gains

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Photo - FILE - This May 11, 2007 file photo shows a Wall Street sign in front of the flag-draped facade of the New York Stock Exchange. U.S. stocks edged higher in early trading Thursday, May 22, 2014, extending gains from a day earlier. Investors cheered earnings news from several retailers, including Best Buy, Dollar Tree and L Brands. Sears fell sharply after reporting disappointing results. (AP Photo/Richard Drew, File)
FILE - This May 11, 2007 file photo shows a Wall Street sign in front of the flag-draped facade of the New York Stock Exchange. U.S. stocks edged higher in early trading Thursday, May 22, 2014, extending gains from a day earlier. Investors cheered earnings news from several retailers, including Best Buy, Dollar Tree and L Brands. Sears fell sharply after reporting disappointing results. (AP Photo/Richard Drew, File)
News,Business,Economy,Wall Street,Financial Markets,Dow Jones

NEW YORK (AP) — Stocks are closing higher following an encouraging report on Chinese manufacturing and improving earnings from several U.S. retailers.

Best Buy, Dollar Tree and L Brands rose after reporting better results. Homebuilders rose following a modest increase in sales of previously occupied homes.

A survey from HSBC suggested the slowdown in China's economy is flattening. May's reading on China's manufacturing sector was the best in five months.

The Standard & Poor's 500 index rose four points, or 0.2 percent, to close at 1,892 Thursday.

The Dow Jones industrial average increased 10 points, or 0.1 percent, to 16,543. The Nasdaq composite gained 22 points, or 0.6 percent, to 4,154.

Bond prices fell slightly. The yield on the 10-year Treasury note edged up to 2.55 percent.

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