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Stories Stories Business Global stocks up as weak U.S. data tied to weather; dollar drops

Global stocks up as weak U.S. data tied to weather; dollar drops

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Written by Aldine      May 08, 2014    
 
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Unseasonably cold and snowy weather hurt U.S. retail sales, considered a gauge of consumer spending. Sales fell unexpectedly in January, while other data showed more Americans filed for jobless benefits last week.

Global Stocks Up As Weak U.S. Data Tied To Weather

"We understand the impact the weather is having, and we expect the economy is going to perk up when we get some more seasonal weather in the second quarter," said Phil Orlando, chief equity strategist at Federated Investors in New York.

In the foreign exchange market, the dollar fell to a two-week low against the euro and slid against other major currencies, after the day's U.S. economic data. U.S. bond prices rose following two days of losses.

[Read Full article: Global stocks up as weak U.S. data tied to weather; dollar drops]

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Location

Epicentre
New York, United States of America

Details

Author
Caroline Valetkevitch
Contributor's Comment
World stock markets edged higher on Thursday as soft U.S. economic data was blamed on bad weather, while the dollar fell to a two-week low against the euro.
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