Wall Street edges up as retailers and telecoms gain

NEW YORK (Reuters) - Stocks reversed course on Wednesday to climb modestly as investors scooped up shares of retailers and telecommunications companies, offsetting worries about the economy and weak financial results.

Highlights:

* Macy's Inc was among the leading retailers, rising 12 percent after amending its bank credit facility, and shares of Motorola Inc edged up 1.6 percent after it said it planned to suspend 401(k) contributions and pension plan.

* The Dow Jones industrial average <.DJI> rose 14.02 points, or 0.16 percent, to 8,938.16. The Standard & Poor's 500 Index <.SPX> edged up 3.00 points, or 0.33 percent, at 916.18. The Nasdaq Composite Index <.IXIC> gained 2.66 points, or 0.17 percent, to 1,592.55.

(Reporting by Leah Schnurr; Editing by Kenneth Barry)