More good US data boosts equities
|US retail sales data helped underpin a move higher for stocks this afternoon, reinforcing the positive outlook for the US, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Stocks surge as US shoppers keep spending
Who needs tariff worries when Americans keep flashing the cash? A good retail sales print has been enough to put stock markets back on the front foot, as investors are encouraged to forget the Powell drama of 24 hours ago. Jobless claims were also better than expected, providing a fresh reason to rush back into US names. The news lifted European markets as well, though reports of possible tariff retaliation remind us that the issue hasn’t gone away.
Dollar rebound continues
The greenback forgot its wobble from Wednesday’s session too, taking heart from yet more good US data. This is a reminder to investors that while it might be fun to focus on whether the US president is going to fire his chief central banker, the real action will be in economic data, and right now that data signals that the US economy is still doing ok.
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