Stocks turned higher by late morning as Federal Reserve members headed to Jackson Hole, Wyo., for their closely-watched summer summit. Investors are most eager to hear from Fed Chair Janet Yellen, who will deliver a widely-anticipated speech tomorrow. Guess? (GES) soared after bumping up its full-year earnings forecasts. Recent restructuring efforts have fueled bottom-line growth, though the retailer did concede that sales would rise at a slower pace than hoped for. Williams-Sonoma (WSM) reduced its full-year forecast, citing a "more cautious consumer" for a weaker performance. The home-goods retailer reported a nearly 5% decline in comparable-brand sales at its largest brand Pottery Barn. Tiffany (TIF) reported better-than-expected earnings. Sales came in short, though, a reflection of weaker tourist spending. Quarterly revenue fell 6%.
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