Arab Today, arab today wall street rebounds on positive retail sales
Last Updated : GMT 21:36:21
Arab Today, arab today
Arab Today, arab today

Wall Street rebounds on positive retail sales

Arab Today, arab today

Arab Today, arab today Wall Street rebounds on positive retail sales

New York - XINHUA

US stocks surged Tuesday, bouncing back from Monday's selloff, as better-than-expected retail sales provided a boost to the market. In midday trading, the Dow Jones Industrial Average jumped 70. 90 points, or 0.44 percent, to 16,328.84. The S&P 500 climbed 13. 55 points, or 0.74 percent, to 1,832.75. The Nasdaq Composite Index soared 50.85 points, or 1.24 percent, to 4,164.16. U.S. retail sales edged up 0.2 percent in December following a downwardly revised 0.4-percent gain in November, the Commerce Department said, exceeding market forecasts. "The December retail sales numbers look strong," said a research note Tuesday from FTN Financial. It also added the downward revisions to the October and November numbers must be taken into account. U.S. business inventories rose 0.4 percent in November from the preceding month, the department said in a separate report Tuesday. Moreover, U.S. import prices recorded no change in December following two months of declines, while export prices advanced 0.4 percent, the Labor Department said. A pair of notable banks posted a mixed picture in their earnings reports, followed by a bound of earnings reports from other giant banks later this week, which is expected to set the tone of the new earnings season. JPMorgan, the largest U.S. bank by assets, early Tuesday reported a net income of 5.3 billion U.S. dollars for the fourth quarter of 2013, down from 5.7 billion dollars a year ago. Its revenue for the quarter was 24.1 billion dollars, down 1 percent compared with the previous year. Legal costs, including the recently announced settlement over JPMorgan's involvement in Bernard Madoff's fraud, took a toll on the bank's results in the fourth quarter. However, the bank's shares still slightly advanced in midday. Meanwhile, Wells Fargo & Company, the biggest U.S. mortgage lender, reported a record full-year and quarterly net income Tuesday. Its net income in 2013 was 21.9 billion dollars, up 16 percent from last year, while its fourth-quarter net income was 5. 6 billion dollars, up 10 percent year on year. Wells Fargo's record-setting performance was boosted by strong loan and deposit growth, continued improvement in credit quality and strengthened capital levels. But the bank's shares traded in negative territory in the morning trading session.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall street rebounds on positive retail sales Arab Today, arab today wall street rebounds on positive retail sales

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall street rebounds on positive retail sales Arab Today, arab today wall street rebounds on positive retail sales

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday