Retail Rallies Stocks from Last Week’s Lows (Bloomberg)
Following last week’s worst weekly results in two years, stocks bounced back upwards today, thanks in part to data which showed the best increase in retail sales since 2012. ???When you have a market down so much over the past few weeks, people are getting a little bit worried,??? Brent Schutte, senior investment strategist at BMO Global Asset Management in Chicago, said. ???Any time you get incrementally better U.S. data and decent earnings, you have a backdrop to go higher.???