Business
Wall Street hits new records as US recovery gains steam – Sydney Morning Herald
A suite of encouraging data showed how hungry Americans are to spend again, how fewer workers are losing their jobs and how much fatter corporate profits are getting….
The rally got off to a swift start Thursday as traders weighed the latest batch of economic data and corporate earnings reports.
One report showed that US retail sales jumped 9.8 per cent in March from February, blowing past economists forecasts for 5.5 per cent growth. Much of the surge was due to $US1400 ($1806) payments from the US governments latest economic rescue effort hitting households bank accounts. Economists said it shows how primed people are to spend as the economy reopens and conditions…
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