Investing.com - Better-than-expected U.S. retail sales figures sent stocks rising on Tuesday as investors applauded the data and viewed last week's disappointing December jobs report as glitch in an economy that remains on course to recovery.
At the close of U.S. trading, the Dow Jones Industrial Average rose 0.71%, the S&P 500 index rose 1.08%, while the Nasdaq Composite index rose 1.69%.
The Commerce Department reported earlier that U.S. retail sales rose 0.2% in December, beating expectations for a 0.1% increase.
Core retail sales, which exclude automobile sales, expanded by 0.7% in December, well above forecasts for a 0.4% increase.
The numbers sent investors snapping up stocks on sentiments that the underlying economy is improving at a time that monetary policy will still remain accommodative even after the Federal Reserve winds down its bond-purchasing program, which supports stock prices by suppressing long-term interest rates.
Leading Dow Jones Industrial Average performers included Intel, up 3.94%, Microsoft, up 2.27%, and 3M, up 2.00%.
The Dow Jones Industrial Average's worst performers included Boeing, down 0.44%, Merck, down 0.24%, and United Technologies, down 0.15%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.16%, France's CAC 40 rose 0.26%, while Germany's DAX 30 rose 0.32%. Meanwhile, in the U.K. the FTSE 100 finished up 0.14%.
On Wednesday, the U.S. is to release data on producer price inflation and a report on manufacturing activity in the New York region.
At the close of U.S. trading, the Dow Jones Industrial Average rose 0.71%, the S&P 500 index rose 1.08%, while the Nasdaq Composite index rose 1.69%.
The Commerce Department reported earlier that U.S. retail sales rose 0.2% in December, beating expectations for a 0.1% increase.
Core retail sales, which exclude automobile sales, expanded by 0.7% in December, well above forecasts for a 0.4% increase.
The numbers sent investors snapping up stocks on sentiments that the underlying economy is improving at a time that monetary policy will still remain accommodative even after the Federal Reserve winds down its bond-purchasing program, which supports stock prices by suppressing long-term interest rates.
Leading Dow Jones Industrial Average performers included Intel, up 3.94%, Microsoft, up 2.27%, and 3M, up 2.00%.
The Dow Jones Industrial Average's worst performers included Boeing, down 0.44%, Merck, down 0.24%, and United Technologies, down 0.15%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.16%, France's CAC 40 rose 0.26%, while Germany's DAX 30 rose 0.32%. Meanwhile, in the U.K. the FTSE 100 finished up 0.14%.
On Wednesday, the U.S. is to release data on producer price inflation and a report on manufacturing activity in the New York region.