US STOCKS-Wall St buoyed by Intel, but retail sales curb gains

* Intel rises after results, lifting Nasdaq

* U.S. retail sales fall more than expected in June

* Fed’s minutes from June meeting awaited

* Dow up 0.2 pct, S&P up 0.2 pct, Nasdaq up 0.7 pct

* For up-to-the-minute market news see [STXNEWS/US]

By Matthew Lynley

NEW YORK, July 14 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) advanced on Wednesday,
lifted by Intel’s strong results, but weaker-than-expected June
retail sales limited gains.

If the trend holds through the closing bell, stocks’ winning
streak will stretch to seven trading days.

Intel Corp (INTC.O: ) reported better-than-expected second-quarter
earnings and revenue late on Tuesday, allaying fears about weakness
in tech spending. The stock, a Dow component, rose 3.5 percent to
$21.75. [ID:nSGE66D0G3]

But the reality check came from retail sales, which fell for a
second straight month on weakness in autos and gasoline. Investors
closely watch retail sales data for insight into consumer spending as
worries about the economic recovery’s pace have hurt the stock market
in recent weeks. For details, see [ID:nN14122226]

“The consumer can be very fickle and very subject to short-term
fears,” said Tim Ghriskey, chief investment officer at Solaris Asset
Management in Bedford Hills, New York. “It continues to be
corporations … that are driving the economic recovery.”

The Dow Jones industrial average (.DJI: ) was up 21.11 points, or
0.20 percent, at 10,384.13. The Standard & Poor’s 500 Index (.SPX: )
was up 2.50 points, or 0.23 percent, at 1,097.84. The Nasdaq
Composite Index (.IXIC: ) was up 16.63 points, or 0.74 percent, at
2,258.66.

Chipmakers led the technology sector, with Nvidia Corp (NVDA.O: )
up 1.6 percent at $11.09, and Advanced Micro Devices (AMD.N: ) gaining
1.1 percent to $7.60. Qualcomm Inc (QCOM.O: ) shot up 2.9 percent to
$36.99.

An S&P index of retail stocks (.RLX: ) slipped 0.5 percent. The
Commerce Department reported that U.S. retailers’ June sales declined
0.5 percent. That was more than twice the 0.2 percent drop forecast
by economists polled by Reuters.

Bank stocks largely fell on renewed concerns about European
banks’ stress test results. [ID:nLDE66D0ZQ]The KBW Bank Index (.BKX: )
fell 1.6 percent.

Investors are also looking ahead to the minutes from the Federal
Open Market Committee’s June meeting, which will be released at 2
p.m. (1800 GMT). On June 23, at the end of its two-day meeting, the
Fed renewed its pledge to keep benchmark interest rates near zero for
an extended period and noted pockets of weakness in the economy.

In the M&A sector, another potential deal caught investors’
attention. The Wall Street Journal reported that Nokia Siemens
Networks is in talks to buy the telecom-equipment arm of Motorola Inc
(MOT.N: ) in a transaction that could be worth $1.1 billion to $1.3
billion. [ID:nN1391664] Motorola shares gained 4 percent to $7.50,
while the U.S.-listed shares of Nokia Corp were up 0.5 percent at
$8.60.

Financial reform is also on Wall Street’s mind. U.S. Senate
Democrats on Tuesday appeared to nail down the votes needed to
approve a historic overhaul of U.S. financial regulations and set up
a final vote by the end of the week. [ID:nN13247555]

Fast-food chain operator Yum Brands Inc (YUM.N: ) gave a full-year
profit outlook late on Tuesday that was below expectations. At
midday, the stock was down 0.47 of a point at $41.03.
[ID:nN13265343]
(Reporting by Matthew Lynley; Editing by Jan Paschal)

US STOCKS-Wall St buoyed by Intel, but retail sales curb gains