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U.S. May Retail Sales Surged By An Unprecedented 17.7%; Stock Markets Rally
Summary: U.S. retail sales in May spiked up by 17.7%, marking the biggest surge on record, per CNBC. Stock futures also escalated today as Dow Jones opened with a growth of 846.7 points, or 3.29%. S&P 500 soared by 2.71%, and the Nasdaq Composite expanded by 2.20%.
U.S. retail sales in May spiked up by 17.7%, marking the biggest surge on record, per CNBC.
Retail sales in May rose by 16.8% compared with April. The number also doubled the 8% increase estimated by Dow Jones. The clothing industry is one of the biggest winners of May, as stores witnessed the largest gain of 188%. In March, retail sales fell by 16.4% due to lockdowns and massive unemployment.
Stock futures also escalated today as Dow Jones opened with a growth of 846.7 points, or 3.29%. S&P 500 soared by 2.71%, and the Nasdaq Composite expanded by 2.20%.
By Dawn Wu
Tags: Retail Market,U.S. stock market,U.S. Stock. Dow Jones
Link: U.S. May Retail Sales Surged By An Unprecedented 17.7%; Stock Markets Rally [Copy]
