US stocks rally at midday

US stocks rallied during Thursday’s midday ET after US retail sales data for July indicated resilient consumer spending, eroding fears of an imminent recession in the world’s largest economy.

At 14:12 ET (18:12 GMT), the Dow Jones rose 500.27 points, or 1.25 per cent, to 40,508.66.

The broader S&P 500 also 84.97 points, or 1.56 per cent, to 5,540.15, while the tech-heavy Nasdaq Composite rose by 399.58 points, or 2.32 per cent, to 17,592.18.

Attribution: Data compiled from Investing.com