Go Finance Reporting in NEW YORK - The stock market is the United States (U.S.) finally rose, even this reinforcement is the highest in two months due to the release of retail sales figures which traders fear will erode the economic downturn.
Many analysts said the rally is happening can only be materialized by the existence of a miracle. Although still weak, retail sales data are not as bad as most had expected, which gives reason to buy after the market is approaching oversold conditions that most of the year.
"In the long term, the trend is weakening is still disturbing. If you look at the S & P 500, index in has lost more than $ 1 trillion, the value since its peak in early May," said Director of DME Securities Alan Valdes was quoted as saying by Reuters, in New York.
Many factors still to be pressure, including worries over debt problems in Europe and the United States. In addition, market participants seemed interested in buying the bonds the Federal Reserve, which has become the main source of liquidity to the market.
U.S. retail sales declined for the first time in 11 months in May, but not far from initial estimates. Chinese data also help to alleviate concerns about global growth.
Strengthening trade spread across the board, the Morgan Stanley retail index rose 2.8 percent, this includes the best performance. The energy sector was also positive, the S & P energy sector index rose two percent as oil prices rose.
At the close of trading on Tuesday (06/14/2011), the Dow Jones industrial rose 123.14 points, or 1.03 percent to 12076.11. The broader Standard & Poor's 500 index rose 16.04 points, or 1.26 percent, to 1287.87. The Nasdaq Composite Index rose 39.03 points, or 1.48 percent to 2678.72. (GoFinance)
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