Markets Right Now: Retail report lifts US stocks

Posted on Thursday, June 14th, 2018 By The Associated Press

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4:00 p.m.

Stocks are closing mostly higher Thursday as investors cheered strong retails sales growth in May.

Comcast gained 4.6 percent and Walt Disney advanced 2.3 percent as the two companies battle for control of businesses being sold by Twenty-First Century Fox. Fox rose 2.1 percent.

U.S. retail sales rose last month by the largest amount since November, a signal that consumers are very confident about the U.S. economy.

Technology companies also made strong gains. Alphabet, Google's parent company, rose 1.4 percent.

The S&P 500 index rose 6 points, or 0.2 percent, to 2,782.

The Dow Jones industrials slipped 25 points, or 0.1 percent, to 25,175. The Nasdaq composite added 65 points, or 0.8 percent, to 7,761, a record.

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12:00 p.m.

Stocks are trading slightly higher Thursday as investors cheer strong retails sales growth in May.

Comcast is up 3 percent and Walt Disney is up 1.9 percent as the two companies battle for control of businesses being sold by Twenty-First Century Fox. Fox shares gained 1.7 percent.

U.S. retail sales rose last month by the largest amount since November, a signal to investors that consumers are very confident about the U.S. economy.

The S&P 500 index rose 8 points, or 0.3 percent, to 2,784.

The Dow Jones industrials rose 5 points, or less than 0.1 percent, to 25,205. The Nasdaq composite added 63 points, or 0.8 percent, to 7,759.

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9:40 a.m.

Stocks are opening slightly higher Thursday as investors cheer strong retails sales growth in May.

Comcast is up 2.5 percent and Disney is flat as the two companies battle for control of businesses being sold by Twenty-First Century Fox. Fox shares gained 1.3 percent.

U.S. retail sales rose last month by the largest amount since November, a signal to investors that consumers are very confident about the U.S. economy.

The S&P 500 index rose 9 points, or 0.3 percent, to 2,784.

The Dow Jones industrials climbed 83 points, or 0.3 percent, to 25,285. The Nasdaq composite added 43 points, or 0.6 percent, to 7,739.

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