U.S. retailers edge higher after first Fed rate cut since 2020
** Shares of U.S. retailers edge higher after the Federal Reserve cuts interest rates for the first time in four years
** Shares of retail bellwether Walmart WMT.N up 0.4% while Target TGT.N up 1.5%; furniture retailers Home Depot HD.N and Lowe's LOW.N up 2% and 1.7%, respectively
** Department stores Macy's M.N, Kohl's KSS.N and Nordstrom JWN.N up 1.5%, 1.8% and 1.2%, respectively
** Shares in footwear companies Nike NKE.N, Dick's Sporting Goods DKS.N up about 1%; apparel maker Levi's LEVI.N up 1.6%
** Dollar stores also rise. Dollar General DG.N up about 1% while Dollar Tree DLTR.N up 2.9%
** Consumers had been paring back spending on non-essential items with borrowing costs at their highest levels in over two decades since July 2023, when the Fed last hiked interest rates by 25 basis points
** The S&P 500 Consumer Discretionary sector .SPLRCD index up 0.77%
Reporting by Juveria Tabassum in Bengaluru
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