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Wall Street climbs after retail data
Economies.com
2020-10-16 14:33PM UTC
US stock indices opened the day with gains following upbeat data and renewed hopes for stimulus.
US President Donald Trump told treasury secretary Steven Mnuchin to raise the proposed stimulus to over $1.8 trillion to pass it through Congress before the November elections.
Earlier US data showed retail sales rose 1.9%, besting estimates of 0.7%, while core sales rose 1.5% in September, besting estimates of 0.4%.
Dow Jones rose 1.2% as of 15:31 GMT to 28,865, while NASDAQ rose 0.9%, as S&P 500 rose 0.9% to 3,514.
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