Posted by manager
on Apr 16th, 2012 in Business
| Comments Off on Wall Street to open higher after retail sales
NEW YORK (Reuters) – On Monday U.S. stocks opened in rebound after recent profit taking, supported by retail sales higher than expected in the U.S. and a better than expected bank Citigroup.
In early trade, the Dow Jones gained 0.9% or 115.27 points to 12,964.63 points. The Standard & Poor’s, larger advances of 0.6% (8.26 points) to 1,375.57 points while the Nasdaq composite index is 0.4% (13 points) to 3,024.82 points.
Retail sales in the U.S. rose 0.8% in March, above expectations, despite rising gasoline prices, suggesting that the U.S. economy has not slowed in the first quarter as much as some might fear.
Values, Citigroup takes 2.8% to 34.34 dollars. The New York bank made a profit per share excluding exceptional items related to a change in accounting for the value of the debt to $ 1.11. Analysts had expected EPS of a dollar.
S & P 500 benchmark fund managers, lost 2.7% over the past two weeks, after U.S. economic indicators below expectations and a renewed concern for the euro area.
Manufacturing growth in the State of New York has slowed markedly in April to its lowest level in five months, said the Federal Reserve of New York on Monday.
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