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The market rose despite some poor results from a pair of retailing companies. Sears dropped $3.55, or 8.2 percent, to $39.72 after the company said its second-quarter loss widened as the number of stores in operation declined and the company dealt with lingering effects from its spinoff of the Hometown and Outlet brand. Abercrombie & Fitch fell $8.27, or 18 percent, to $38.53 after the company said that declining traffic and weakness in girls' clothing pushed its net income down 33 percent in the second quarter. The yield on the 10-year Treasury note rose to 2.90 percent from 2.89 percent Wednesday. The yield is the highest it's been since July 2011, and is up sharply since going as low as 1.63 percent in early May. Rising bond yields have unsettled stock investors because they have a direct impact on the cost of borrowing for everyone, from home owners trying to refinance their mortgages to companies trying to sell debt, making them a potential long-term drag on the economy. Average U.S. rates for fixed mortgages rose this week to their highest levels in two years, mortgage buyer Freddie Mac said Thursday. The average rate on the 30-year loan jumped to 4.58 percent, up from 4.40 percent last week. The dollar was little changed against the euro and rose against the Japanese yen. Among other stocks making big moves: Nasdaq OMX fell $1.08, or 3.4 percent, to $30.46 after Thursday's trading glitch. Hewlett-Packard fell $3.16, or 13 percent, to $22.22 after the company reported weak demand for personal computers and falling revenue late Wednesday. The company's earnings were below Wall Street's expectations. Dollar Tree rose $1.29 cents, or 2.5 percent, to $53.13 after the company reported earnings that surpassed the expectations of Wall Street analysts. The company also raised the lower end of its full-year earnings forecast.
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