Wednesday, April 14, 2010
Today, the Dow Jones Industrial Average posted its first triple-digit point gain in three weeks. Also, the Standard & Poor's 500 broke through a key round-number milestone thanks to the latest round of corporate earnings reports, which offered positive signals about the broader economy. Another good report came in retail sales, which rose 1.6% last month, the biggest gain in four months and above the 1.3% increase economists expected. Other economic reports showed a modest climb in consumer prices and an increase in business inventories. In its beige book of regional economic indicators, the Federal Reserve was upbeat about consumer spending, which represents more than two-thirds of gross domestic product in the U.S. In other markets, the dollar weakened against both the euro and the yen. DJIA +103.69 Nasdaq +38.87 S&P 500 +13.35.