Published Date:
19 May 2009
US SHARES rose on light volume yesterday as a better-than-expected quarterly profit and upbeat outlook from Lowe's, the No 2 US home improvement retailer, fuelled hopes the economic slump was easing.
Lowe's chief executive Robert Niblock said consumer confidence has improved, and housing turnover is showing "signs of a bottom".
The group's numbers also served as a fresh catalyst for investors eager to sustain the market's rally and were a sharp contrast to last week's disappointing April retail sales data.
The Dow Jones lifted 175.62 points, or 2.12 per cent, to 8,444.26 in lunchtime trading in New York.
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Last Updated:
18 May 2009 8:37 PM
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Source:
The Scotsman
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Location:
Edinburgh
