Signs of an economic boom are emerging as Americans open up their wallets to spend freely.
Retail sales soared 9.8% in March, according to a report Thursday from the Commerce Department. The increase follows a 2.7% slump in February, which analysts blamed partly on severe winter weather.
The surge is being fueled by shoppers flush with cash from $1,400 dollar relief payments, and in some cases, by the feeling of newfound security from a fresh vaccine.
Hope about the economy was further reinforced after data showed the number of Americans filing new state unemployment claims last week dropped to 576,000, a decrease of 193,000 from the previous week.
POLITICO
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04/15/2021 08:00 AM EDT
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(Bloomberg) Stocks rose with U.S. futures on Thursday as investors awaited key economic data and assessed earnings reports. Treasury yields fell. European equities climbed as electrical power firm ABB Ltd. boosted its revenue guidance and a rally in base metals lifted miners. Most Asian shares advanced, though gauges for Hong Kong and China fell as the Chinese central bank’s liquidity operations signaled it’s seeking to contain rising leverage. U.S. futures pointed to a rebound after indexes eased from all-time peaks on Wednesday, when a drop in cryptocurrency exchange Coinbase Global Inc. overshadowed strong bank earnings. Results are due later on Thursday from firms including Citigroup Inc., BlackRock Inc. and Bank of America Corp. The ruble slid with the Biden administration poised to take action against Russian individuals and entities in retaliation for alleged misconduct related to the SolarWinds hack and the U.S. election. Expectations of a strong economic recovery, combin
European Shares Extend Gains On Fed s Dovish Message finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Key equity barometers reversed intraday losses and ended with decent gains on Thursday. Trading was volatile as rising COVID-19 cases continue to spook investors. The Nifty managed to close near the 14,600 mark. Metal and pharma shares advanced while PSU banks and auto shares tumbled.
The barometer index, the S&P BSE Sensex, gained 259.62 points or 0.53% to 48,803.68. The Nifty 50 index added 76.65 points or 0.53% to close at 14,581.45.
TCS (up 3.67%), ICICI Bank (up 2.69%), HDFC Bank (up 2.13%) and HDFC (up 1.22%) supported the indices.
In the broader market, the BSE Mid-Cap index fell 0.10% and the BSE Small-Cap index lost 0.03%. Both these indices underperformed the benchmarks.