Reply #2: Today's Market WrapUp [View All]

Retail Reality Check
Stock Market Melt Up Last Thursday Misplaced
BY CHRIS PUPLAVA

The markets vaulted north last Thursday and took nearly everyone by surprise. The top news story from Yahoo Finance on the day entitled, “Stocks Surge on Retail Sales Reports,” had the following explanation for the markets move:

Wall Street soared Thursday, propelling the Standard & Poor's 500 index and Dow Jones industrials to record highs 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 money on the table. Though retail sales generally appeared to be crimped last month by higher gasoline prices and a tepid housing market, and the outlook for the coming months was difficult to ascertain, the overall reading wasn't as dour as some investors expected.

Several reports beat Street expectations -- notably that of Wal-Mart Stores Inc., the world's largest retailer, which posted a better-than-expected 2.4 percent jump in sales at stores open at least a year.

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