Stocks are rallying worldwide as Wall Street heads for its third straight gain after U.S. retail sales rebounded last month by much more than economists expected.
Stocks are rallying worldwide on Tuesday, and Wall Street is heading for its third straight gain after U.S. retail sales rebounded last month by much more than economists were expecting.
The Dow Jones Industrial Average was up 782 points, or 3%, at 26,545, as of 9:38 a.m. Eastern time, and the Nasdaq composite was up 2.1%. Underpinning all of it is continued aid coming from central banks, which have repeatedly come to the economy’s rescue. The Federal Reserve helped turn markets around on Monday after it said it would buy individual corporate bonds as part of a previously announced program to support lending markets for big employers. The announcement helped the S&P 500 flip from a loss of as much as 2.5% to a modest gain for the day.
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