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Wall Street Opens Higher as Retail Sales Ooze Economic Strength; Dow up 140 Pts -Breaking

by Mike Robinson

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© Reuters.

Geoffrey Smith 

Investing.com – The U.S. stock exchanges opened mostly higher after Tuesday’s strong retail sales report from October. Strong earnings reported by major retailers also indicated that the economy was strong enough to handle the end of extreme monetary stimulation.

The October retail sales increase was 1.7%, the sharpest since March. This is accompanied by a significant rebound in auto sales. Auto sales had been suffering in prior months due to a lack of stock. The numbers found clear echoes in stronger-than-expected quarterly results from Walmart (NYSE:) and – in particular Home Depot (NYSE:).

The, which is dominated old-world cyclical stock, had risen 0.4% to 36,229 by 9:40 am ET (1440 GMT). Just over 0.2% was gained by the and a bit less than that by the. 

 

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