Strong US retail sales added to hopes the world’s biggest economy can avoid recession.
NEW YORK – Wall Street stocks shrugged off early weakness and pushed higher Wednesday as they followed European bourses upward after strong US economic data.
US retail sales jumped by three percent last month to $697.0 billion, easily topping estimates in the latest indication of strength in the US economy — something that has sometimes rattled equity investors nervous over potential further Federal Reserve interest rate increases.
That dynamic has sometimes led to the mantra that “good news is bad news” for the stock market.
But analysts said Wednesday’s pattern suggested a shift.
“Markets seem to be changing their tune about ‘good news being…
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