Jan. 9 (Bloomberg) — U.S. stocks climbed, paring this year's loss for the Standard & Poor's 500 Index, as Macy's Inc. rallied and jobless claims fell before the start of corporate earnings season.
Macy's rallied 7.5 percent after forecasting profit that beat analysts' estimates. J.C. Penney gained 4.8 percent after Piper Jaffray Cos. recommended buying the shares. Bed Bath & Beyond Inc. plunged 11 percent after projecting earnings that missed analysts' predictions.
The S&P 500 advanced 0.2 percent to 1,841.27 at 9:49 a.m. in New York. The Dow Jones Industrial Average climbed 25.04 points, or 0.2 percent, to 16,487.78. Trading in S&P 500 stocks was 20 percent above the 30-day average at this time of day.
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