Stocks End Higher, Shake Off Weak Economic Data

U.S. stocks closed higher on Wednesday, as media stocks got a lift from a Supreme Court ruling and refinery stocks wobbled on a weakening of an oil export ban. The Dow Jones Industrial Average gained 49.38 points, or 0.29%, to 16,867.51. The S&P 500 rose 9.55 points, or 0.49%, to 1,959.53. The Nasdaq Composite climbed 29.40 points, or 0.68%, to 4,379.76.

The New York Attorney General is set to file a securities fraud lawsuit against Barclays PLC for misrepresenting
the safety of its U.S.-based alternative trading system, or “dark pool,” to investors, according to a source.

Bed Bath & Beyond Inc.(BBBY)’s profit and sales fell short of estimates. The household goods retailer said it earned $187.1 million, or 93 cents a share, in its fiscal first quarter, compared with $202.5 million, or 93 cents a share, in the same period a year ago. Sales totaled $2.657 billion, up 1.7% from a year ago.

Barnes & Noble Inc. (BKS) is to split in two, separating its money-losing Nook digital business from its consumer bookstores as the retailer is finding it difficult to compete with bigger companies like Amazon.com Inc. AMZN +1.01% in the e-book and hardware sector.