US stocks rise a bit after mixed retail sales report

New York:Wall Street stocks rose modestly early Friday following a mixed retail sales report and as investors eyed increasing US Treasury bond yields.

About 20 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 26,184.79.

The broad-based S&P 500 advanced 0.1 percent to 2,906.15, while the tech-rich Nasdaq Composite Index climbed 0.2 percent to 8,026.94.

US retail sales rose by a tepid 0.1 percent in August, well below consensus estimates, Commerce Department data showed. However, July retail sales were revised upward to a 0.7 percent gain.

The yield on the 10-year US Treasury rose to 3.0 percent, a closely-monitored benchmark for the outlook on interest rates.

The increase came even as US inflation continued to come in at a modest level, reducing the odds the Federal Reserve will accelerate interest rate hikes.

The increase in yields pushed Bank of America, JPMorgan Chase and other financial stocks higher.