WASHINGTON: Benchmark indexes retreated from their highs of the day as oil dropped below $60 a barrel for the first time since 2009, erasing a rally in energy shares. Staples Inc. (SPLS) gained the most in the Standard & Poor’s 500 Index as consumer discretionary stocks rallied 0.7 percent as a group. Urban Outfitters Inc. jumped 7.6 percent, pacing gains among retail shares, which climbed 1 percent.
The S&P 500 added 0.5 percent to 2,035.33 at 4 p.m. in New York after climbing 1.5 percent earlier. The Dow Jones Industrial Average rose 63.19 points, or 0.4 percent, to 17,596.34, trimming a prior gain of 1.3 percent. About 7.2 billion shares traded hands on U.S. exchanges, 4.9 percent above the three-month average.
“When you see a big decline like we did yesterday we’re poised for a little bit of a bounce back and retail sales are helping,” Larry Peruzzi, the Boston-based director of international trading at Cabrera Capital Markets LLC, said by phone. “Globally, we’re still one of the bright spots. Retail sales are always an indication that consumers are feeling good.”
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
