Wall Street climbs after retail sales data
- U.S. stocks climbed on Thursday as retail sales data lifted the outlook for consumer spending and as healthcare shares gained.
- U.S. retail sales increased 1.2 percent in May, more than expected, as households boosted purchases of automobiles and a range of other goods even as they paid a bit more for gasoline, according to Reuters.
- “You had good retail sales today and slightly above expectations. Remember how weak retail sales were in the winter, so you would expect a bounceback here,” said Tim Ghriskey, chief investment officer at Solaris Group in Bedford Hills, New York.
- However, the market stayed cautious over Greece. The International Monetary Fund said its delegation had halted negotiations in Brussels and flown home because of differences with Athens.
Categories: Capital Markets