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Stocks edge higher as retail sales reports arrive



By MADLEN READ
08 May 2008 @ 09:37 am EST

NEW YORK (AP) - Wall Street is modestly higher in early trading as investors sift through retailers' April sales figures.

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Many retailers have seen better than anticipated results. Wal-Mart Stores Inc., for one, says sales of groceries, flat-screen TVs and medications helped boost sales at stores open for at least a year by 3.2 percent last month.

But some apparel stores, whose merchandise falls into the category of discretionary items, appear to still be struggling as consumers budget more for gasoline and food.

The Dow Jones industrials is up about 18 points at the 12,832 level.

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