Stocks advance after retail sales report
- Share via
Major U.S. stock indexes edged higher after the federal government reported an uptick last month in consumer spending, a major driver of the economy.
The Dow Jones industrial average was up 26 points, or 0.2%, to 13,196 shortly after the opening bell on Wall Street.
The broader Standard & Poor’s 500 index gained 3 points, or 0.2%, to 1,407. The Nasdaq was up 7 points, or 0.2%, to 3,029.
Consumer spending increased in July, the U.S. Census Bureau reported. U.S. retail and food-services sales increased 0.8% last month from June, the agency said. That’s up from a 0.7% decline in June from the prior month.
Investors, meanwhile, got downbeat economic data on Europe. Gross domestic product in the Eurozone declined 0.2% in the second quarter, compared with the previous three-month period. There was 0% growth in the first quarter, according to Eurostat.
Of major European economies, the only one to see growth in the second quarter, compared to the previous quarter, was Germany (0.3%). France saw 0% growth.
ALSO:
Robert Pattinson to surface Tuesday, set to ring NYSE bell
Gasoline jumps 23 cents; Tesoro to be state’s biggest refiner
Weaker U.S. growth seen than previously forecast, survey says
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
