Stock Market Today: Stocks Get a Lift on Solid Retail Sales

Wall Street also weighed strong earnings reports from blue-chip retailers Home Depot and Walmart.

woman shopping with bags
(Image credit: Getty Images)

The broader stock market gained ground today with investors bolstered by upbeat news from the retail sector.

For starters, data from the Commerce Department showed retail sales rose 1.7% in October, above the 1.3% increase expected by economists. "American retailers racked up their best month since the rebates-led spike in March, suggesting inflation has yet to clamp down on purchasing power," says Sal Guatieri, senior economist at BMO Capital Markets.

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.