STOCKS GAIN AND US YIELDS DECLINE AFTER RETAIL SALES DATA
NEWS Desk Global
A gauge of global stocks advanced for a second straight session on Tuesday and U.S. Treasury yields fell after a softer-than-expected report on consumer spending, while investors digested comments from multiple Federal Reserve officials on interest rates.
Retail sales rose 0.1% last month after a downwardly revised 0.2% drop in April. The result was below expectations of economists polled by Reuters for a gain of 0.3%, and indicated economic activity was slowing as higher interest rates affect consumer spending patterns.
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