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Business activity reaches a 52-month high as U.S. stocks rise but utilities lag:The preliminary U.S. business-activity reading rose to a 52-month high and all three major stock indexes closed higher; meanwhile, the 10-year Treasury yield climbed from 4.69% to 4.73%, and utilities were the main lagging sector.
Strong Ross sales and earnings plus a higher outlook lift consumer discretionary stocks:Ross Stores reported 13% second-quarter sales growth, 10% comparable-store sales growth, broad-based traffic gains and quarterly earnings of $2.66 per share, then raised its full-year profit outlook; the shares rose 4.4% that day.