US STOCKS-Futures erase losses after strong April retail sales data

viernes 13 de mayo de 2016 08:53 GYT
 

* April retail sales rise 1.3 pct vs. est. 0.8 pct rise

* Nordstrom, J.C. Penney lower after fall in sales

* Nvidia rises after forecast beats expectations

* Futures: Dow down 13 pts, S&P up 0.25, Nasdaq up 1.5 (Adds details, comment, updates prices)

By Tanya Agrawal

May 13 (Reuters) - U.S. stock index futures erased their losses on Friday after data showed retail sales in April recorded their biggest increase in a year, suggesting the economy was regaining momentum after growth almost stalled in the first quarter.

The U.S. Commerce Department said retail sales jumped 1.3 percent last month, the largest gain since March 2015 and beating expectations of a rise of 0.8 percent.

The strong data also helped ease concerns after weak earnings reports from department stores including Macy's this week stoked fears about consumer spending, which accounts for more than two-thirds of U.S. economic activity.

"The numbers came in much stronger than we expected and that will help alleviate the market's concerns over retail. The number also puts the rate hike back on the table," said Peter Cardillo chief market economist at First Standard Financial.   Continuación...