The three major indexes of the New York Stock Exchange started higher, buoyed by recovering consumer indicators and strong performances from major corporations.
On the 23rd (Eastern Time), the Dow Jones Industrial Average was recorded at 44,505.74, up 21.25 points (0.05%) from the previous session as of 9:31 a.m.
Additionally, the Standard & Poor's (S&P) 500 index rose 16.60 points (0.26%) to 6,313.96, while the tech-focused Nasdaq index increased by 84.27 points (0.40%) to 20,969.92.
Expectations for the recovery of the U.S. economy seem to be leading to a preference for risk assets. The retail sales data for June released by the U.S. Department of Commerce the day before significantly exceeded market expectations, providing upward momentum.
Keith Lerner, co-chief investment officer (CIO) and chief market strategist at Truist, noted, "The market is still maintaining a positive trend, led by the growth sector, and it is reliable to trust the current flow."
Corporations' performances also contributed to the rise in stock prices. In particular, strong earnings from major banks such as JPMorgan and Goldman Sachs announced earlier in the week are seen to have supported the rally across the market.
European stocks showed mixed trends in a range-bound manner. The Euro Stoxx 50 index is down 0.17% compared to the previous session. The German DAX index also decreased by 0.20%, whereas the UK FTSE index is up 0.03%, and the French CAC 40 index is up 0.10%.