US Stocks Edge Higher In Early Trade


United States stocks gained on Thursday, with the Dow Jones closing at a record for the 24th time in 2017, led by financials ahead of a roster of corporate results from the US's biggest banks.

US stock futures pointed to a flat to slightly lower start for Wall Street on Friday, July 13, as earnings season kicks off with reports from some USA banking giants, and the USA government releases data on consumer inflation and retail sales.

TURBULENT QUARTER: Delta Air Lines was down 1.8 percent after the company reported a smaller profit and less revenue than analysts expected.

The Dow Jones industrial average rose about 25 points, notching a record close, with Wal-Mart, Goldman Sachs and Apple contributing the most gains. The remarks assuaged concerns among some traders that the Fed was raising interest rates too quickly in the face of stalling inflation and sluggish US economic growth, setting off a broad market rally. The stock gained $2.44, or 4.8 percent, to $53.31.

The Nasdaq Composite (INDEXNASDAQ:.IXIC) closed up 13.27 points, or 0.21% to 6,274.44.

RETAIL RALLY: Several retail chains were notching gains.

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Target Corp TGT.N rose 4.8 percent after an upbeat second-quarter forecast. Silver slid 20 cents to $15.69 an ounce. The stock shed 98 cents to $54.50.

Oil is down 0.7% at $45.19/bbl, gold is 0.2% higher at $1222/ounce and the 10-year Treasury yield is down 2 bps to 2.3%.

Benchmark U.S. crude gained 59 cents, or 1.3 percent, to settle at $46.08 per barrel on the New York Mercantile Exchange. The FTSE 100 index of leading British shares was flat.

Japan's Nikkei 225 gained 0.19%.

CHINA TRADE: Chinese trade growth accelerated for a second month in June in a positive sign for global demand and the world's No. 2 economy. South Korea's Kospi advanced 0.17%, while Down Under, the S&P/ASX 200 rose 0.47%.