The Dow jumped over 500 points and the Nasdaq increased 2% on Thursday as retail sales data indicated resilient consumer spending, somewhat calming fears of a possible recession.
Read More Wall Street: Dow Surges 500 Points And Tesla Stock Jumps Over 6%
Wall Street’s main indexes rose about 1% on Thursday as retail sales data for July indicated resilient consumer spending.
Read More Wall St marches ahead as retail sales quell slowdown worries
A sharp slowdown in the U.S. job market that touched off days of global stock-market turmoil also fueled speculation the Federal Reserve may not wait until its next scheduled meeting.
Read More The Fed has cut rates amid stock swoons before. Not this time
U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services.
Read More US inflation rises moderately, consumer spending cools
The economy grew via the addition of 206,000 jobs in June, but unemployment was still above 4% in the same month, according to the Labor Department on Friday.
Read More Report: U.S. Job Market Weakens In June
U.S. monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months.
Read More US inflation ebbs in May as goods prices fall