Major U.S. markets closed with modest gains on low volume. Stocks were boosted by strong consumer and durable goods data. Tim Hortons (THI) continue to add to its gains after Burger King (BKW) agreed to buy the Canadian coffee-and-doughnuts chain. Best Buy (BBY) dropped sharply after reporting sales were much weaker than Wall Street expected. Time Warner (TWX) shares closed slightly in the green. The company's Turner Broadcasting unit is offering buyouts to up to 600 of its employees this week in an effort to cut costs. Orbitz (OWW) shares fell after American Airlines (AAL) said it stopped posting fares on the online travel website. The carrier also plans to remove fares for US Airways on September 1st. Some recognizable names in retail are set to report earnings Wednesday including Chico's (CHS), Tiffany (TIF) and Williams-Sonoma (WSM).

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