U.S. Stocks Rise as Data Boost Optimism on Economy’s Strength

U.S. stocks rose, after equities rallied the most in a month, as data on jobs and retail sales added to optimism on the strength of the economy.

The Standard & Poor’s 500 Index gained 0.4 percent to 2,112.47 at 9:32 a.m. in New York, with the underlying index 0.9 percent below its record set last month.

Data showed sales at retailers picked up in May, a sign households are finally willing to put the gains from continued job growth and lower fuel prices to work. Gains were broad-based, with auto dealers, clothing and building material stores among the biggest gainers. Separate report showed applications for unemployment benefits remained below 300,000 for a 14th straight week, a sign of labor market strength.

Source: Bloomberg

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