finance
US Stocks Rise as Dow Gains Over 250 Points on Retail Sales Data
U.S. stocks opened higher Thursday with the Dow Jones Industrial Average rising more than 250 points. Retail sales increased 0.5% in April while information technology shares led sector gains. Several small-cap stocks posted triple-digit percentage gains following company-specific announcements.
May 14, 9:47 AM·1m read3 sources
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U.S. stocks traded higher at the open Thursday, with the Dow Jones index advancing more than 250 points. Following the market open, the Dow rose 0.57% to 49,977.52. The NASDAQ climbed 0.32% to 26,488.04 while the S&P 500 gained 0.39% to 7,473.64. Information technology shares posted the strongest sector performance, jumping 0.8%. Health care stocks lagged, falling 0.3%.
U.S. retail sales rose 0.5% month-over-month in April.
That compared to a revised 1.6% gain recorded in the previous month. The figures arrived as investors monitored signals about consumer strength and potential implications for interest rate policy.
Inc shares shot up 159% to $1.30 after the company reported better-than-expected first-quarter financial results. Shares of MOBIX LABS INC surged 117% to $3.77 after the company announced a non-binding Letter of Intent to acquire Special Project Delivery LLC.
ai Inc shares also rose sharply following positive momentum in the broader technology sector and company-specific developments. The moves highlighted continued volatility in smaller capitalization names even as major indices recorded modest gains.
“U.S. retail sales rose 0.5% month-over-month in April compared to a revised 1.6% gain in the previous month.”
Trading volume and further sector rotation remained in focus as the session continued.
