Wall St set for higher open as retail sales quell slowdown worries

Quick Summary:

WALL Street was set for a higher open on Thursday as retail sales data for July indicated resilient consumer spending, allaying fears of an imminent recession in the world's biggest economy.

Retail bellwether Walmart added 8.0% after raising its annual profit forecast for the second time this year.

Separately, a Labor Department report showed the number of Americans filing new applications for unemployment benefits came in at 227,000 for the week ended Aug.10, compared with an estimate of 235,000.

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Category: EconomyBusiness

Markets: Malaysia

Topics: Markets Wall Street Retail sales /Business/Business News Nasdaq Recession Unemployment

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-15 @ 21:25:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 517 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22086808

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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Year Established: 1971

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