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Stocks open mixed on Wall Street; Best Buy jumps

  • Associated Press
  • August 20, 2013 - 8:50 AM

NEW YORK — The stock market is opening mixed after a four-day slump.

Several retailers rose sharply in early trading Tuesday after reporting higher earnings. Best Buy rose 11 percent and Urban Outfitters rose 9 percent.

The Standard & Poor's 500 index was up a point, or 0.1 percent, at 1,647 after the first few minutes of trading.

The Dow Jones industrial average edged down three points, or 0.02 percent, to 15,007.

The Nasdaq composite rose nine points, or 0.3 percent, to 3,599.

Investors were also encouraged by a decline in bond yields, which are used to set interest rates on many kinds of loans including home mortgages.

The yield on the benchmark 10-year Treasury note fell to 2.82 percent from 2.88 percent late Monday.

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