U.S. stocks rose for a
third day and the dollar gained as data showing an increase in retail
sales bolstered confidence in the economy. Treasuries rose with European
debt, while oil slipped.
The Standard &
Poor’s 500 Index rose 0.2 percent at 4 p.m. in New York, pushing the
three-day gain to 1.4 percent. The Stoxx Europe 600 Index climbed 0.6
percent, trimming a 1.2 percent advance after an IMF spokesman said the
organization made no progress in Greek debt talks. The Bloomberg Dollar
Spot Index added 0.2 percent, while the yield on 10-year Treasury notes
slipped nine basis points from an October high. Oil slumped with gold
and copper.
Data showed sales at
U.S. retailers picked up in May, while jobless claims indicated labor
market strength that will help fuel growth as the Federal Reserve
prepares to increase interest rates. The International Monetary Fund
said its team negotiating with Greece has left Brussels after failing to
make progress on a debt deal that would help the country to avoid
default.
Source: Bloomberg
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