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Retailers rebound to boost S&P, Nasdaq to record highs

U.S. stocks rose on Thursday, with the S&P 500 and Nasdaq Composite scaling new highs, buoyed by strong earnings reports from the embattled retailer sector.

Recent Business News

Jobless claims edge up; goods trade deficit widens

WASHINGTON The number of Americans filing for unemployment benefits rose slightly last week and the four-week moving average of claims hit a 44-year low, suggesting a further tightening of the labor market that could encourage the Federal Reserve to raise interest rates next month.

11:26am EDT

Exclusive: Bankrupt Westinghouse ends pensions for ex-CEOs, executives

WILMINGTON, Del Bankrupt Westinghouse Electric Co LLC, the U.S. nuclear technology firm owned by Toshiba Corp , has stopped making pension payments to former executives, according to a letter seen by Reuters, removing a benefit that has helped the company retain top talent.

12:36pm EDT

Lawsuit accuses GM of rigging diesel truck emissions

General Motors Co was accused in a lawsuit on Thursday of rigging hundreds of thousands of diesel trucks with devices similar to those used by Volkswagen AG , to ensure they pass required emissions tests.

U.S., Environment 1:18pm EDT

Ballooning Chinese dollar borrowing a dilemma for index trackers

LONDON/HONG KONG Record-breaking dollar bond sales from Chinese companies are steadily increasing China's weight in global indexes, raising concerns about overexposure among investors who track them.

1:38pm EDT

Best Buy beats on profit, sales; shares at 11-year high

CHICAGO Best Buy Co Inc reported an unexpected rise in first-quarter comparable sales and the No. 1 U.S. electronics retailer said it planned to save $600 million in costs by the end of fiscal 2021, sending shares to an 11-year high on Thursday. | Video

11:42am EDT

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