Midday Report: Burlington Pops on Guidance; U.S. Stocks Climb

U.S. stocks move higher with the Dow Jones Industrial Average and S&P 500 on track to close at another record high.

Author:: Keris Alison Lahiff
Publish date:: Jul 18, 2016 12:02 PM EDT

Stocks moved higher with the Dow Jones Industrial Average and S&P 500 on track to close at another record high. Better-than-expected earnings from Bank of America (BAC) - Get Report helped to fuel markets, while a tech rally boosted the Nasdaq. Homebuilder sentiment weakened in July, though only slightly, according to the National Association of Home Builders' index. Still, the reading remains above the 50-level indicative of expansion in the robust housing sector. Groupon (GRPN) - Get Report was upgraded to OVERWEIGHT from NETURAL with a $6 price target at Piper Jaffray. The firm expects the online deals site to exceed expectations with on-boarding of new customers. Burlington Stores (BURL) - Get Report climbed after upping its second-quarter guidance. The retailer raised both its quarterly comparable sales growth forecast and adjusted net income estimates. TheStreet's Keris Lahiff has details from Wall Street.