Dow gains as retail sales rise

clock

The Dow Jones rocketed on opening today, following news retail sales rose in May for the first time in three months on the back of growing consumer confidence.

The blue chip index was up 63.34 points (0.72%) to 8802.36 as retail sales rose 0.5% as forecast after a 0.2% drop in April, according to the Commerce Department. Bank of America Corp is the biggest winner so far, jumping 2.5% to $12.28. The bank had its 2009/10 profit estimates raised at Morgan Stanley, which cited higher expected income. Morgan Stanley estimates Bank of America Corp will earn 52 cents a share in 2009 and $2.64 in 2010. However, Home Depot has not been buoyed by consumer sales news, shedding 0.86% to $24.18. The only financial in the bottom five, JPMorgan Chase is do...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Woodford IM hits back at FCA's enforcement action including £46m in fines

Woodford IM hits back at FCA's enforcement action including £46m in fines

WIM said it 'strongly disagrees' with the regulator's decision

Cristian Angeloni
clock 05 August 2025 • 3 min read
Regulator bans and fines Neil Woodford and Woodford IM £46m

Regulator bans and fines Neil Woodford and Woodford IM £46m

Woodford has appealed the decision to the Upper Tribunal

Cristian Angeloni
clock 05 August 2025 • 3 min read
Darius McDermott: The line between resilience and risk

Darius McDermott: The line between resilience and risk

'Trump has, for the most part, chickened out'

Darius McDermott
clock 29 July 2025 • 5 min read