• US stocks climb after retail-sales data trounces expectations

    5 days ago - By Business Insider

    Lucas Jackson/Reuters
    US stocks gained on Friday as investors cheered a better-than-expected reading of September retail sales. American retail spending climbed 1.9% last month, more than doubling economist estimates. The reading marks the gauge's fifth straight increase and a sharp bounce from August's 0.6% gain. The encouraging economic data offset dwindling odds of a pre-election stimulus deal. Senate Majority Leader Mitch McConnell said Thursday he only plans to bring Senate Republicans' smaller package to a vote , quashing hopes for Democrats' larger proposal. Oil futures sank as...
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  • US retail sales rose more than expected in September as the economic recovery picked up

    5 days ago - By Business Insider

    Shoppers wear masks while walking at the Galleria Dallas mall in Dallas on Monday, May 4, 2020.
    LM Otero/AP
    US retail sales in September improved from the prior month as the nation contended with still-heightened coronavirus infection rates and a lack of new stimulus.
    Spending increased 1.9% last month, landing above the average economist estimate of 0.8%.
    The reading marks the fifth straight month of improvement and a sizeable increase in the pace of recovery after August's paltry 0.6% gain
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    Americans spent more than expected at...
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