U.S. stocks finished higher on positive Retail Sales data

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.

Source

-Syfur

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Categories: Capital Markets

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