* Home Depot, Best Buy shares rise after results
* Investors looking to Fed minutes due Wednesday
* Indexes up: Dow 0.4 pct; S&P 0.7 pct, Nasdaq 1 pct
By Angela Moon
NEW YORK, Aug 20 U.S. stocks, snapping the
year's longest losing streak, rose on Tuesday on gains by Best
Buy Co, J.C. Penney and other retailers.
Gains accelerated in afternoon trading due to large-cap
technology stocks, including Intel Corp and Cisco
Systems, which lifted the Nasdaq composite index more
than 1 percent.
But U.S. Treasuries yields, although down from Monday, were
still at two-year highs, encouraging investors to dump riskier
assets like stocks and buy U.S. government debt. The yield on
the benchmark 10-year note dipped to 2.83 percent on Tuesday
from 2.88 percent on Monday.
Best Buy, Home Depot and J.C. Penney rose after they posted
results. Consumer-focused shares had recently been battered as
retailers which reported earnings earlier in the period
Intel shares were up 1.4 percent at $22.60, the biggest
gainer on the Dow, while Cisco Systems jumped nearly 1 percent
Investors have been grappling with uncertainty over when the
Federal Reserve might begin to wind down its stimulus measures.
On Wednesday, they will be able to study the minutes from the
U.S. central bank's July meeting, which will be released and
might provide clues about policymakers' plans for so-called
"Stocks are rebounding today, but we are seeing a lot of
market swings because of the concerns on Fed tapering, so I
wouldn't be surprised if we ended flat or lower by the end of
the day," said Randy Frederick, managing director of active
trading and derivatives at the Schwab center for financial
research in Austin, Texas.
The Dow Jones industrial average was up 56.45 points,
or 0.38 percent, at 15,067.19. The Standard & Poor's 500 Index
was up 12.26 points, or 0.74 percent, at 1,658.32. The
Nasdaq Composite Index was up 35.02 points, or 0.98
percent, at 3,624.11 after rising 1 percent.
The S&P closed lower on Monday at 1,646.06, below its 50-day
moving average for a second straight day and at its lowest since
TJX Cos, the owner of the discount T.J. Maxx and
Marshalls chains, reported better-than-expected quarterly sales,
bucking a trend of weak results by a number of retailers. Its
shares gained 6.7 percent to $54.16.
Home Depot shares rose 0.2 percent to $75.33 after
the world's largest home improvement chain raised its yearly
Shares of Best Buy jumped 10 percent to $33.79 after
the world's largest consumer electronics chain reported a higher
Urban Outfitters shares gained 10.1 percent $43.95
one day after the apparel retailer's quarterly profit beat
J.C. Penney shares gained 5.6 percent to $13.96
after the troubled retailer said the back-to-school season has
so far been encouraging.
But Barnes & Noble shares tumbled more than 11
percent to $14.69 after the book retailer reported a steeper
quarterly loss and its founder dropped his plan to buy the