U.S. stocks rose, pushing the Standard & Poor’s 500 Index to a two-week high, as a slowdown in retail sales boosted speculation the Federal Reserve won’t be forced to raise rates sooner than anticipated.
Amazon.com Inc. climbed 2.2 percent after ChannelAdvisor Corp. said the retailer’s same-store sales rose 40 percent in July. Vertex Pharmaceuticals Inc. jumped 3.9 percent to lead gains among health-care stocks. King Digital (KING) Entertainment Plc plummeted 23 percent trading after posting worse-than-forecast sales and cutting its 2014 outlook. Macy’s Inc. lost 5.5 percent after profit fell short of estimates.
The S&P 500 gained 0.7 percent to 1,946.72 at 4 p.m. in New York, the highest since July 30. The Dow Jones Industrial Average climbed 91.26 points, or 0.6 percent, to 16,651.80, also the highest in two weeks. About 5.1 billion shares changed hands on U.S. exchanges, 11 percent below the three-month average.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.