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| US stocks close higher on dollar fall and economic data | |
| (2 months later) | |
| (Close): US shares made strong gains on Thursday, ending two consecutive days of falls. | (Close): US shares made strong gains on Thursday, ending two consecutive days of falls. |
| The Dow Jones added almost 260 points, or 1.5%, to end at 17,635.39, after a weaker dollar helped assuage the market's fears of lower corporate profits and a sooner-than-expected interest rate rise. | The Dow Jones added almost 260 points, or 1.5%, to end at 17,635.39, after a weaker dollar helped assuage the market's fears of lower corporate profits and a sooner-than-expected interest rate rise. |
| The S&P 500 added 26 points, or 1.3%, closing at 2,065.95, while the Nasdaq rose 0.9%, or 43 points to 4,893.29. | The S&P 500 added 26 points, or 1.3%, closing at 2,065.95, while the Nasdaq rose 0.9%, or 43 points to 4,893.29. |
| The dollar fell 0.86% against the euro. | The dollar fell 0.86% against the euro. |
| One US dollar now buys €0.94. | One US dollar now buys €0.94. |
| Some market-watchers were concerned that a strong dollar could negatively impact US firms, whose overseas earnings may be worth less after currency conversions. | Some market-watchers were concerned that a strong dollar could 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. |
| Intel was the biggest faller on the Dow Jones, after it warned that firms weren't upgrading their computers. Shares in the firm fell more than 4% on the warning. | Intel was the biggest faller on the Dow Jones, after it warned that firms weren't upgrading their computers. Shares in the firm fell more than 4% on the warning. |
| However, shares in Walt Disney were up by 4.16% following news that the studio is developing a sequel to box office juggernaut Frozen. | However, shares in Walt Disney were up by 4.16% following news that the studio is developing a sequel to box office juggernaut Frozen. |
| Toy-maker Mattel, which currently owns the license to sell Frozen products, saw its shares rise by 4.2%. | Toy-maker Mattel, which currently owns the license to sell Frozen products, saw its shares rise by 4.2%. |
| Winter woes | Winter woes |
| Weaker-than-expected February retail sales, which dipped by 0.6% - the third straight month of declining sales - cheered some market watchers, who worry that the Federal Reserve will be forced to raise interest rates sooner rather than later as the US economy improves. | Weaker-than-expected February retail sales, which dipped by 0.6% - the third straight month of declining sales - cheered some market watchers, who worry that the Federal Reserve will be forced to raise interest rates sooner rather than later as the US economy improves. |
| Analysts blamed frigid temperatures across most of the northeast for the sales dip. | Analysts blamed frigid temperatures across most of the northeast for the sales dip. |
| However, most analysts don't expect retail sales to remain muted for much longer. | 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. | "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." | "We expect consumers to come out swinging in March. Much of the lost sales in February will be made up in March." |