Wall Street rises, adding to a winning week - Times of India
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NEW YORK: Stocks rose again Thursday after more companies reported better profits than expected, while yields climbed after a Federal Reserve official cautioned the end to its interest-rate hikes may not arrive as soon as Wall Street hoped. The S&P 500 gained 0.9%, adding to its rally from the day before as hopes rise further that the US government can avoid a disastrous default on its debt. The Dow Jones Industrial Average added 115 points, or 0.3%, while the Nasdaq composite climbed 1.5%. Video game maker Take-Two Interactive shot to the biggest gain in the S&P 500 after it forecast a huge jump in revenue for the fiscal year following this one. That stoked speculation that Grand Theft Auto VI is on the way, and its stock jumped 11.7%. Bath & Body Works was close behind with a gain of 10.7%. It reported stronger revenue and earnings for the latest quarter than analysts expected. Also helping to support Wall Street was another retailer, Walmart , which rose 1.