(MarketWatch) — U.S. stock indexes ended higher Tuesday, after a stronger-than-expected rise in October retail sales and as investors digested results from major retailers.
- The Dow rose +54.77 or +0.72%
- The S&P 500 climbed +18.10 or+0.39%
- The Nasdaq advanced +120.01 or +0.76%
U.S. stocks climbed Tuesday, with major benchmarks ending near record highs, as investors parsed fresh data on retail sales and industrial production.
Retail sales jumped 1.7% in October, the government said, surpassing forecasts for a 1.5% rise and logging the biggest gain since March when households received billions in federal stimulus money. Excluding autos, sales rose 1.4%.
Industrial production, which includes factory, mining and utility output, increased at a seasonally adjusted 1.6% in October compared with the previous month, according to the Federal Reserve. Economists polled by The Wall Street Journal expected a 0.8% increase.
In other economic data, the National Association of Home Builders said its monthly confidence index rose 3 points to a reading of 83 in November, its highest since May.
Results from major retailers also were rolling in as the reporting season for third-quarter earnings hits the final stretch, with investors on the lookout for any signs of higher shipping or labor costs eroding companies’ profit margins.
- Home Depot Inc. shares rose 5.7% after the home improvement retailer reported fiscal third-quarter profit, net sales and same-store sales that beat expectations.
- Shares of Walmart Inc. fell 2.6% after the retail giant raised its full-year earnings guidance for a third consecutive quarter.
- Shares of Peloton Interactive Inc. jumped 15.5% after the home fitness company said it launched a public offering of $1 billion worth of common stock.
- Oil futures ended lower, with the U.S. benchmark slipping nearly 0.2% to settle at $80.76 a barrel.
- Gold futures fell 0.7% to settle at$1,854.10 an ounce.
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