MARKET SNAPSHOT: U.S. Stocks Open Higher; Macy's Falls On Results

By Anora Mahmudova and Carla Mozee, MarketWatch

NEW YORK (MarketWatch) -- The U.S. stock market opened higher Wednesday, led by gains in the energy and health-care sectors.

Keeping a lid on the move were softer-than-expected retails sales data as well as disappointing quarterly results from retailers such as Macy's Inc and Fossil Gorup Inc.

The S&P 500 (SPX) opened 8 points, or 0.4%, higher at 1,942.53.

The Dow Jones Industrial Average (DJI) added 57 point, or 0.4%, to 16,618.15.

The Nasdaq Composite (RIXF) began the session up 22 points, or 0.5%, at 4,911.59.

Sales at U.S. retailers were unchanged in July, the weakest result in six months, as sales fell at auto dealers, but rose at gas stations and food and beverage stores, according to government data released Wednesday.

A report on inventories at U.S. businesses in June is due at 10 a.m. Eastern Time, and economists expect a rise of 0.3%. Inventories rose 0.5% in May.

Geopolitical tensions in Ukraine and the Middle East, which still hovered in the background, have been cited as one of the reason for weakness in equity markets.

Stocks to watch

Shares of Macy's Inc. (M) fell following a disappointing outlook and second-quarter sales that fell short of estimates.

Shares of SeaWorld Entertainment Inc. (SEAS) plunged fter the theme-park operator reported second-quarter results fell short and the company cut its full-year sales outlook.

King Digital Entertainment (KING) sank 22% after disappointing quarterly results from the "Candy Crush" triggered a wave of ratings downgrades from analysts. (Read more about the day's notable movers here: http://www.marketwatch.com/story/king-macys-among-stocks-to-watch-wednesday-2014-08-13.)

Networking-gear maker Cisco Systems (CSCO) will release results after the close of Wednesday's trading session.

Elsewhere, oil futures (CLU4) were up 2 cents, and gold futures (GCZ4) picked up $4.20 an ounce. Asian markets overnight closed higher, with Hong Kong's Hang Seng climbing 0.8%. In the U.K., the pound (GBPUSD) dropped sharply against the U.S. dollar as prospects dimmed for an interest-rate hike before the end of the year.

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