U.S. stocks opened higher Wednesday, shaking off two straight sessions after a weak April retail sales report spurred expectations the Federal Reserve would delay raising interest rates.
Five minutes into trade, the Dow Jones Industrial Average had gained 55.59 points (0.31%) at 18,123.82.
The broad-based S&P 500 advanced 10.36 (0.49%) to 2,109.48, while the tech-rich Nasdaq Composite Index added 33.45 (0.67%) at 5,009.64.
On Tuesday, stocks pared back losses to end modestly lower as U.S. Treasury bonds retreated slightly from a surge amid bond market volatility.
U.S. retail sales were virtually unchanged in April, the Commerce Department reported; most analysts had expected a 0.2% increase. The disappointing report, a piece of the picture on consumer spending that accounts for two-thirds of U.S. economic activity, was seen as putting a potential chill on the Fed's plan to raise near-zero interest rates.
On Tuesday, stocks pared back losses to end modestly lower as U.S. Treasury bonds retreated slightly from a surge amid bond market volatility.
Copyright Agence France-Presse, 2015
