Friday, July 13, 2007

Wall Street Soares

Wall Street soared to record highs Thursday as bright spots among generally sluggish retail sales allowed investors to toss aside concerns about the health of the economy. But investors, heartened by signs of a happy and spending consumer, clearly decided to put some bets on the table. Though retail sales generally appeared to be crimped last month by higher gas prices and a lukewarm housing market, and the outlook for the coming months was difficult to ascertain, the overall reading wasn't as dismal as some investors expected. This was the greatest gain in four years.

No comments: