Markets Open Up on Retail Sales Numbers
Wall Street opened up slightly this morning on stronger-than-expected retail numbers.
In the first 15 minutes of trading, the Dow is up about 40 points, or less than half of 1 percent.
The broader S&P 500 is up about the same and the tech-heavy Nasdaq is up by one-quarter of 1 percent.
Most retailers reporting this morning showed that August year-over-year sales were still down, but most were not down as far as forecasters expected, thanks to back-to-school sales.
The Institute for Supply Management's non-manufacturing index is due out at 10 a.m. The ISM's manufacturing index number, released earlier this week, showed that the U.S. factory sector moved from contraction to expansion for the first time since early last year. This number will speak to non-factory activity.
-- Frank Ahrens
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September 3, 2009; 9:48 AM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500
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