Friday 13 March 2015

US stocks jump as retail sales fall

US stocks rebounded on Thursday.

The S&P 500 Index rose 1.3 percent after losing 1.9 percent in the previous two sessions.

The STOXX Europe 600, though, closed little changed on Thursday.

US stocks rose despite a surprisingly weak report on retail sales on Thursday. The Commerce Department reported that retail sales fell 0.6 percent in February after having declined 0.8 percent in January.

The weak retail sales report lowered expectations for a Federal Reserve rate hike. Accordingly, the US dollar fell 0.7 percent to $1.062 per euro on Thursday.

No comments:

Post a Comment