Stock are rising this afternoon on better than expected retail sales last month, and surprisingly good earnings from Citigroup (NYSE:C).
U.S. retail sales jumped 1.1% in September, which was better than the 0.8% economists reportedly expected. Also, August retail sales data was revised upward, making August and September two of the biggest months for retail sales in almost two years.
Further boosting the mood on Wall Street was a better than expected earnings report from Citigroup. Those shares were up over 4% on the news.
Homebuilders shares are rebounding, with KB Home (NYSE:KBH) and PulteGroup (NYSE:PHM) both up nearly 4%.
Walmart (NYSE:WMT) and Home Depot (NYSE:HD) are among stocks buoying the Dow this afternoon.
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