Investing.com – U.S. stock markets turned higher, erasing early losses on Tuesday, after better-than-expected data on retail sales boosted retail shares while technology stocks were lifted by a raised outlook from Best Buy.
During early U.S. trade, the Dow Jones Industrial Average was up 0.21%; the S&P 500 index climbed 0.21% and the Nasdaq Composite index gained 0.32%.
Earlier in the day, official data showed that U.S. retail sales rose more-than-expected in August, climbing for the second month. The U.S. Census Bureau said that retail sales rose by a seasonally adjusted 0.4% in August, after rising by a revised 0.3% in July.
Analysts had expected retail sales to increase by 0.3% in August.
Shares in Wall Mart, the world's largest retailer advanced 0.88% following the data.
Also Tuesday, the U.S.'s largest consumer-electronics retailer Best Buy reported second quarter earnings which far surpassed expectations and revised up its earnings target for the year.
Shares in the company jumped 6.93% following the report.
Across the Atlantic, European stock markets also were higher: France’s CAC 40 gained 0.30%; Germany's DAX rose 0.32%; Britain's FTSE 100 climbed 0.18%; and the EURO STOXX 50 advanced 0.14%.
Earlier in the day, data showed that Germany's ZEW index of economic sentiment sank to its lowest level in 19-months.
During early U.S. trade, the Dow Jones Industrial Average was up 0.21%; the S&P 500 index climbed 0.21% and the Nasdaq Composite index gained 0.32%.
Earlier in the day, official data showed that U.S. retail sales rose more-than-expected in August, climbing for the second month. The U.S. Census Bureau said that retail sales rose by a seasonally adjusted 0.4% in August, after rising by a revised 0.3% in July.
Analysts had expected retail sales to increase by 0.3% in August.
Shares in Wall Mart, the world's largest retailer advanced 0.88% following the data.
Also Tuesday, the U.S.'s largest consumer-electronics retailer Best Buy reported second quarter earnings which far surpassed expectations and revised up its earnings target for the year.
Shares in the company jumped 6.93% following the report.
Across the Atlantic, European stock markets also were higher: France’s CAC 40 gained 0.30%; Germany's DAX rose 0.32%; Britain's FTSE 100 climbed 0.18%; and the EURO STOXX 50 advanced 0.14%.
Earlier in the day, data showed that Germany's ZEW index of economic sentiment sank to its lowest level in 19-months.