Arab Today, arab today us stocks higher on upbeat retail sales
Last Updated : GMT 21:50:13
Arab Today, arab today
Arab Today, arab today

US stocks higher on upbeat retail sales

Arab Today, arab today

Arab Today, arab today US stocks higher on upbeat retail sales

New York - Xinhua

US stocks opened higher on Tuesday as strong U.S. retail sales in July helped to boost the market. The US Commerce Department said retail sales rose 0.8 percent in July, marking the first increase in four months. The upbeat data suggested that U.S. consumption is on the track of recovery. A separate report by the Labor Department said that producers prices gained 0.3 percent in July, the highest in five months, as prices of consumer goods rose, despite that energy prices continued to fall. As for the Europe, France\' economic growth remained flat in the second quarter, beating previous estimation of 0.1 percent decrease, while German\' s gross domestic product rose 0.3 percent. Shortly after the opening bell, the Dow Jones industrial average gained 29.77 points, or 0.23 percent, at 13,199.20. The Standard & Poor\'s 500 was up 3.76 points, or 0.27 percent, to 1,407.87. The Nasdaq Composite Index rose 6.50 points, or 0.22 percent, to 3,029.02.

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