Stock Market Today: Stocks Climb After Solid Retail Sales, Cava IPO

It was a busy day of economic data, with most of Wall Street focused on May's stronger-than-expected retail sales report.

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Stocks started Thursday on a quiet note, but then jolted higher as investors digested global central bank news and a busy day of U.S. economic data that included stronger-than-expected retail sales figures.  

Following yesterday's pause on rate hikes from the Federal Reserve, the European Central Bank (ECB) overnight raised interest rates by a quarter-percentage point. Additionally, ECB President Christine Lagarde said the central bank is "very likely" to lift rates again at its July meeting.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at 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.