Today – Tuesday January 14th, 2014
- U.S. stocks rise as better-than-forecast retail sales beat analysts forecast which is showing consumer’s are spending and there’s confidence in the market again. Economists were predicting that retail sales would increase 0.1%, but it increased .02% in December due to strong sales from retail stores. It also shows the economy is growing because consumer spending is 70% of the economy thats why it is very crucial that we have strong retail sales because it is part of consumer spending.
- Stocks extended their gains as all 10 main industries in the S&P 500 advanced, with Conglomerates leading.
- The Dow Jones Industrial Average rose 115.92 points, or 0.7%, to 16373.86. The S&P 500 gained 19.68 points, or 1.1%, to 1838.88.
Categories: Capital Markets