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US outlook is upbeat
US SHARES rose on light volume yesterday as a better-than-expected quarterly profit and upbeat outlook from Lowe's, the No 2 US home improvement retailer, fuelled hopes the economic slump was easing.
Lowe's chief executive Robert Niblock said consumer confidence has improved, and housing turnover is showing "signs of a bottom".
The group's numbers also served as a fresh catalyst for investors eager to sustain the market's rally and were a sharp contrast to last week's disappointing April retail sales data.
The Dow Jones lifted 175.62 points, or 2.12 per cent, to 8,444.26 in lunchtime trading in New York.
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Weather for Edinburgh
Friday 25 May 2012
Today
Sunny spells
Temperature: 9 C to 20 C
Wind Speed: 15 mph
Wind direction: East
Tomorrow
Sunny
Temperature: 8 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
