US stocks higher

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IOL wall street

US stocks rose in opening trade Tuesday, helped by a better-than-expected retail sales in July.

The blue-chip Dow Jones Industrial Average added 21.61 points (0.16 percent) to 13,191.04 in the first five minutes of trade.

The broader S&P 500-stock index gained 3.15 (0.22 percent) to 1,407.26, while the tech-rich Nasdaq was up 6.72 points (0.22

percent) to 3,029.24.

US retail sales rose by a better-than-expected 0.8 percent in July, breaking a three month losing streak and offering hope of faster growth in the third quarter, official data showed.

Also helping was data showing the eurozone contracted by 0.2 percent in the second quarter, exactly as most forecasters had predicted, although German growth of 0.3 percent beat expectations. - Sapa-AFP


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