Stocks rise for fourth day in a row, led by retail

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Associated Press

Posted on April 11, 2013 at 1:30 PM

Updated Thursday, Apr 11 at 2:02 PM

NEW YORK (AP) — Stocks are closing higher for the fourth day in a row with a strong showing by retailers like Rite Aid and Ross Stores.

The Dow Jones industrial average closed up 62 points to 14,865 Thursday, a gain of 0.4 percent.

The Standard & Poor's 500 rose five points, or 0.4 percent, to 1,593.

Technology stocks lagged the market. The Nasdaq composite edged up just two points, or 0.09 percent, to 3,300.

Computer hardware and software makers slumped following a report that PC shipments dropped sharply in the first quarter.

Hewlett-Packard fell 6 percent and Microsoft fell 4 percent, the worst drops in the S&P 500 index.

Three stocks rose for every two that fell on the New York Stock Exchange. Trading volume was slightly below average at 3.3 billion shares.

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