US stocks: S&P closes at more than two-month high on retail, energy lift

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NEW YORK: US stocks rallied on Tuesday, with the S&P 500 closing at its highest level in 2-1/2 months, as a sales forecast by Best Buy dampened concerns high inflation would lead to a dismal holiday shopping season while a bounce in oil prices helped lift energy shares.
Best Buy Co Inc shot up 12.78% as the best performing stock on the S&P 500 index, after the retailer forecast a smaller drop in annual sales than previously announced and expressed confidence a ramp up in deals and discounts will entice more customers.
The gains in Best Buy helped boost the S&P 500 retail index 1.21%.
In contrast, Dollar Tree Inc tumbled 7.79% as the worst performing S&P 500 component, which also capped gains for the retail index as the discount retailer cut its annual profit forecast for the second time.
“If you take the continuum of income and consumers out there, the upper half of that is…

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