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| Version 0 | Version 1 |
|---|---|
| US stocks higher on dollar fall | US stocks higher on dollar fall |
| (about 2 hours later) | |
| (Open): US shares opened higher on Thursday, with the Dow Jones Industrial Average rising by more than 100 points, as the dollar weakened slightly. | (Open): US shares opened higher on Thursday, with the Dow Jones Industrial Average rising by more than 100 points, as the dollar weakened slightly. |
| The dollar fell by 0.8% against the euro, cheering investors worried about a strong dollar's impact on US firms. | The dollar fell by 0.8% against the euro, cheering investors worried about a strong dollar's impact on US firms. |
| The Dow Jones jumped 133.44 points to 17,768.83. | The Dow Jones jumped 133.44 points to 17,768.83. |
| The S&P 500 added 13.23 points in early trading to 2,053.47, and the Nasdaq rose 16.69 points to 4,866.63. | The S&P 500 added 13.23 points in early trading to 2,053.47, and the Nasdaq rose 16.69 points to 4,866.63. |
| Some market-watchers are concerned that a strong dollar will negatively impact US firms, whose overseas earnings may be worth less after currency conversions. | Some market-watchers are concerned that a strong dollar will negatively impact US firms, whose overseas earnings may be worth less after currency conversions. |
| Additionally, a strong dollar could make it more difficult for companies to compete with foreign rivals, who may be able to offer cheaper products. | Additionally, a strong dollar could make it more difficult for companies to compete with foreign rivals, who may be able to offer cheaper products. |
| In terms of companies, Intel was the biggest faller on the Dow Jones, after it warned that firms weren't upgrading their computers. Shares in the firm fell nearly 4% on the warning. | |
| Winter woes | |
| Investors were further cheered by weaker-than-expected February retail sales, which dipped by 0.6% - the third straight month of declining sales. Analysts blamed frigid temperatures across most of the northeast for the dip. | Investors were further cheered by weaker-than-expected February retail sales, which dipped by 0.6% - the third straight month of declining sales. Analysts blamed frigid temperatures across most of the northeast for the dip. |
| Negative economic data cheers market watchers, who worry that the Federal Reserve will be forced to raise interest rates sooner rather than later as the US economy improves. | Negative economic data cheers market watchers, who worry that the Federal Reserve will be forced to raise interest rates sooner rather than later as the US economy improves. |
| However, most analysts don't expect retail sales to remain muted for much longer. | |
| "The consumer fundamentals are solid - lower energy prices, well received employment reports, stronger real disposable income growth, and elevated consumer confidence," said IHS Global Insight economist Chris Christopher in a note to clients. | |
| "We expect consumers to come out swinging in March. Much of the lost sales in February will be made up in March." |