Author: Elena Todorova
123jump.com
Last Update: 10:24 AM EDT June 13 2007
U.S. stocks recovered from earlier weakness to open higher on Wednesday. Market sentiment improved on optimism about profit growth after strong retail sales in May indicated strength in consumer spending. The dollar rallied, reaching a four-month high vs. the yen and an 11-week high against the euro after the retail sales data. In addition, bond yields retreated from five-year highs.
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