Equities markets in New York saw gains at midday on Thursday.
The Dow Jones Industrial average had added 1.2 percent to 13,739.47 after having reached a new high at 13,744.92 earlier in the session, while the Nasdaq Composite was up 0.9 percent to 2,674.8 and the S&P 500 gained 0.9 percent as well, to 1,532.81.
In the pharmaceuticals sector, Merck (NYSE: MRK) added 2.4 percent to $50.09 on a broker upgrade.
On the other hand, biotechnology group Genentech (NYSE: DNA) dropped 1.9 percent to $74.46 even though it said its earnings were up by 41 percent in the second quarter.
The retail sector was mixed ahead of data on June sales, which will be released on Friday, but most were higher at mid-session.
The main exception was Macy’s (NYSE: M), which dropped 3.5 percent to $39 after it said that sales were slower than had been expected and reduced its earnings outlook for the second quarter.
Elsewhere in the sector, Wal-Mart (NSYE: WMT) added 2.1 percent to $48.70 after it said sales were up by 2.4 percent. JC Penney (NYSE: JCP) gained 3.2 percent to $73.46, while Target (NYSE: TGT) was up 3.7 percent to $68.01.
American Eagle Outfitters (NYSE: AEO) was 6.2 percent higher to $27.63 on a gain of 5.7 percent in same-store sales in June.
Abercrombie & Fitch (NYSE: ANF) added 7.5 percent to $74.59.
Alcan (TSX: AL; NYSE: AL) was 10.6 percent higher to $99.05 after miner Rio Tinto (LSE: RIO) offered $38.1 billion in cash for the aluminium producer.
Rival Alcoa (NYSE: AA), which had also bid for Alcan but had that offer rejected, was up 7.4 percent to $45.55.