Global stocks rise after strong US retail sales, better UK inflation data

WALL Street stocks shrugged off early weakness and pushed higher yesterday as they followed European bourses upward after strong US economic data.

US retail sales jumped by 3% last month to US$697 billion (RM3.04 trillion), easily topping estimates in the latest indication of strength in the US economy – something that has sometimes rattled equity investors nervous over potential further Federal Reserve interest rate increases.