Standard Chartered Reaches Settlement, Retail Sales Lift Economic Hopes (HD, WFC)

Good news on Tuesday came from a July retail sales report announcing  the largest increase in four months for the US. Although the German economy expanded more than expected, the eurozone reported tepid growth figures for the last quarter. In trading news, Internet struggled as Groupon (GRPN), Facebook (FB), Angie's List (ANGI) and others extended losses. Home Depot (HD) announced larger than expected revenues and Standard Chartered reached a settlement with a New York banking regulator over their recent money laundering charges.
Trading volume was light in what was described as a fatigued market after the S&P 500's recent streak. The US dollar made gains against both the euro and the Japanese yen.

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Published on Aug 14, 2012
By InvestorGuide Staff

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