Wall Street gains on upbeat retail results

US stocks rose on Thursday, with the S&P 500 and Nasdaq Composite hitting new highs, helped by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers.

The discretionary index was up 1.2 percent, while the S&P 500 retail index was up 1.9 percent, on track for its best day since Nov. 7.

The Dow Jones Industrial Average was up 78.86 points, or 0.38 percent, to 21,091.28, the S&P 500 had gained 12.42 points, or 0.52 percent, to 2,416.81 and the Nasdaq Composite had added 53.18 points, or 0.86 percent, to 6,216.21.

Advancing issues outnumbered declining ones on the NYSE by a 1.07-to-1 ratio; on Nasdaq, a 1.11-to-1 ratio favored advancers.The S&P 500 posted 89 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 127 new highs and 58 new lows.

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