By Laura Mandaro, MarketWatch
SAN FRANCISCO (MarketWatch) — U.S. stocks rose Tuesday, lifted by the first major U.S. economic reports of the week, which showed a rebound in July retail sales and some improvement in German growth.
The Dow Jones Industrial Average DJIA +0.18% rose 19 points, or 0.2%, to 13,189. The S&P 500 SPX +0.17% gained 4 points, or 0.3%, to 1,408, led by financials and consumer discretionary.
The Nasdaq Composite COMP +0.12% rose 8 points, or 0.3%, 3,030.
Ahead of the bell, the Commerce Department said sales at U.S. retailers increased 0.8% in July, breaking a string of three straight monthly declines. Read more on retail sales.
“Like the July payrolls report, the reading on retail sales eases some concerns of a more pronounced weakening in the economy,” wrote Julia Coronado, an economist with BNP Paribas.
In Europe, data showed that the German economy grew 0.3% on a seasonally-adjusted basis in the second quarter, beating forecasts of a 0.2% rise. French gross domestic product was unchanged in the second quarter, which was better than economists’ expectations of a 0.1% decline. Read more on Europe Markets.
Shares of Nasdaq-listed Groupon Inc. GRPN -23.44% fell 22% to $5.90, triggering a short-sale limit, after issuing a disappointing third-quarter forecast. Read: Groupon hit by outlook despite growth
Leading the Dow higher, Home Depot Inc. HD +3.32% rose 2% after reporting higher fiscal second-quarter results. Read more on Home Depot.
U.S. stocks had faltered on Monday, hampered by an empty U.S. economic calendar and a lackluster reading on Japan’s growth. The S&P 500 broke its longest daily winning streak since Dec. 2010. Read more on Monday’s stock action.
Laura Mandaro is a MarketWatch editor, based in San Francisco.
