We have updated our privacy policy and terms & conditions. Find out more here.

U.S. stocks end higher on sales data, Fed comments; Dow rises 0.20%

Stock MarketsAug 13, 2013 08:26PM GMT Add a Comment
Share with a Friend
Thanks for sharing
Emails have been sent to:
To send more emails click here
Investing.com - U.S. stocks rose on Tuesday after the U.S. government reported that retail sales expanded for a fourth consecutive month in July and pointed to an economy that continues to gain steam.

Comments from a senior Federal Reserve official that stimulus programs could remain in place regardless gave stocks added support.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.20%, the S&P 500 index rose 0.28%, while the Nasdaq Composite index rose 0.39%.

The Commerce Department reported earlier that retail sales rose by 0.2% in July, slightly below expectations for a 0.3% increase though an expansion nonetheless.

Retail sales figures for June were revised up to a 0.6% gain from a previously reported increase of 0.4%, the U.S. government added.

Core retail sales, which are stripped of automobile sales, rose at their fastest pace in seven months, expanding 0.5% compared to forecasts for a 0.4% gain.

While markets applauded the data, Federal Reserve Bank of Atlanta President Dennis Lockhart said the Fed still cannot decide if it will begin tapering stimulus programs in September though he did say such a decision was possible.

Stimulus measures such as the Fed's USD85 billion in monthly asset purchases boost stock prices by driving down borrowing costs, and talk of their tapering can send stocks falling by fueling uncertainty as to how markets will perform without monetary support, though Lockhart's comments on Tuesday calmed nerves and allowed equities prices to advance.

Leading Dow Jones Industrial Average performers included Hewlett-Packard, up 2.13%, Boeing, up 1.92%, and UnitedHealth Group, up 1.34%.

The Dow Jones Industrial Average's worst performers included Microsoft, down 1.92%, Alcoa, down 1.33%, and Verizon, down 0.99%.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 0.47%, France's CAC 40 rose 0.51%, while Germany's DAX 30 finished up 0.68%. Meanwhile, in the U.K. the FTSE 100 finished up 0.57%.

On Wednesday, the U.S. is to release official data on producer price inflation.

U.S. stocks end higher on sales data, Fed comments; Dow rises 0.20%

Related Articles

Wall St. ends four-day skid on late tech rally
Wall St. ends four-day skid on late tech rally
By Reuters - Mar 27, 2015

By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks rose modestly on Friday after late news of merger talks in the semiconductor space boosted the technology sector and helped ...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

NQ 100
Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.