Markets Rebound from Tuesday Losses Despite Disappointing Retail Sales
(NEW YORK) — The stock market rallied on Wednesday, more than making up for Tuesday’s losses.
The Dow Jones Industrial Average closed at 16,651.80, up 91.26 from Tuesday’s finish.
The Nasdaq gained 44.88, closing at 4,434.13, while the S&P 500 jumped 12.97 to a finish of 1,946.72.
Those gains came despite news from the Commerce Department that U.S. retail sales fell in July. According to the latest data, much of the drop in retail sales can be attributed to diminished auto sales.
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