US stocks rise on robust retail sales

(iStock)
(iStock)

New York - US stocks climbed further from record highs in opening trade on Friday following strong June retail sales data that suggested momentum in the economy.

US retail sales jumped 0.6%, exceeding expectations, bolstered by strong gains in building materials and garden supplies and most categories.

Five minutes into trade, the Dow Jones Industrial Average was at 18 547.71, up 0.2%.

The broad-based S&P 500 gained 0.2% to 2 167.91, while the tech-rich Nasdaq Composite Index advanced 0.2% to 4 604.15.

Both the Dow and S&P 500 closed at records on Thursday.

The Wall Street advance came despite a shocking attack on a crowd in Nice, France, that killed at least 84 people late on Thursday.

The lack of impact on US equities shows how "senseless acts of terrorism don't resonate fully in capital markets unless they are perceived to have a material economic impact," said Briefing.com analyst Patrick O'Hare.

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