Reported about 2 months ago
US stocks rose sharply on Thursday as positive signals from retail sales and jobless claims boosted market confidence. The Nasdaq climbed over 2%, while the S&P 500 and Dow Jones gained approximately 1.2%. Noteworthy was Walmart's strong earnings report, leading to a 6% rise in its stock, alongside retail sales for July surpassing expectations with a 1% increase. This boost in consumer spending and a drop in jobless claims to 227,000 helped alleviate recession fears and hinted at a robust labor market.
Source: YAHOO