U.S. stocks rose for a third day and the dollar gained as data showing an increase in retail sales bolstered confidence in the economy. Treasuries rose with European debt, while oil slipped.

 

The Standard & Poor’s 500 Index rose 0.2 percent at 4 p.m. in New York, pushing the three-day gain to 1.4 percent. The Stoxx Europe 600 Index climbed 0.6 percent, trimming a 1.2 percent advance after an IMF spokesman said the organization made no progress in Greek debt talks. The Bloomberg Dollar Spot Index added 0.2 percent, while the yield on 10-year Treasury notes slipped nine basis points from an October high. Oil slumped with gold and copper.

 

Data showed sales at U.S. retailers picked up in May, while jobless claims indicated labor market strength that will help fuel growth as the Federal Reserve prepares to increase interest rates. The International Monetary Fund said its team negotiating with Greece has left Brussels after failing to make progress on a debt deal that would help the country to avoid default.

 

Source: Bloomberg