Markets Live Recap: Record Retail Sales Push Stocks Higher Today

Stocks rose Tuesday on the back of a record retail sales jump in May, positive trial results from a potential COVID-19 treatment, and more economic stimulus from the Fed. The U.S. government reported all-time increase in retail sales of 17.7% in May. Economists were expecting a 7.7% increase. Meanwhile, trial results announced today showed an already widely-available drug called dexamethasone can help critically ill coronavirus patients. Combine that with the Fed's announcement yesterday that it will begin buying individual corporate bonds, and you get another market rally. The S&P 500 was up 1.6%, the Dow up 1.7%, and the Nasdaq closed 1.5% higher on the day. The post Markets Live Recap: Record Retail Sales Push Stocks Higher Today appeared first on Money Morning - We Make Investing Profitable . Read more... To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.
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