08/15/2024

As Retail Sales Improve, Wall Street Opens Higher

Nine of the 11 major S&P 500 sectors were trading higher

Wall Street's main indexes rose about 1 percent on Thursday as retail sales data for July indicated resilient consumer spending, allaying fears of an imminent recession in the world's biggest economy.

All megacap and growth stocks edged up, with Tesla leading the pack, rising 4.1 percent.

Nine of the 11 major S&P 500 sectors were trading higher, with consumer discretionary and materials leading gains.

Please select this link to read the complete article from Reuters.