Jump in retail sales sends stock futures off lows
New York, NY — Stock futures moved off their morning lows, but remain mixed Tuesday, after another report signaled modest economic growth.
The dollar hit a new 15-year low against Japan’s yen and Treasury prices rose, which kept potential gains in check.
The Commerce Department said retail sales rose 0.4 percent, slightly better than the 0.3 percent growth forecast by economists polled by Thomson Reuters. The sales report Tuesday falls in line with data over the past two weeks that has indicated the economy is growing slightly faster than economists expected, but still remains sluggish.
Modest growth rates have been enough to reduce fears of the country falling back into recession. That has provided sufficient encouragement for traders to jump back into stocks this month. The Dow Jones industrial average has climbed eight of the past nine days and is off to its best September start since 1939.
