Wall Street rallies, dollar surges as data bolsters Fed pause bets
NEW YORK - Wall Street was sharply higher and the greenback jumped on Thursday as robust economic data failed to budge expectations that the Federal Reserve will leave its key interest rate unchanged next week.
A spate of economic data released before the opening bell showed energy prices, specifically gasoline, were largely responsible for a hotter-than-expected producer prices print and a consensus-beating retail sales reading. "Core PPI continued to slow on a year-to-year basis and retail sales were stronger," Ghriskey added."This is not a weak economy."
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