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05/12/2018 8:15 am  

NEW YORK [url= http://www.teambuccaneersjerseys.com/kendell-beckwith-jersey/]Black Kendell Beckwith Jersey[/url] , Jan. 14 (Xinhua) -- U.S. stocks soared Tuesday, rebounding from Monday's diving, as better-than expected retail sales reassured investors.

The Dow Jones Industrial Average jumped 115.92 points, or 0.71 percent, to 16,373.86. The S&P 500 climbed 19.68 points, or 1.08 percent [url= http://www.teambuccaneersjerseys.com/chris-godwin-jersey/]Black Chris Godwin Jersey[/url] , to 1,838.88. The Nasdaq Composite Index skyrocketed 69.71 points, or 1.69 percent, to 4,183.02.

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However, the strengthening gauge of consumer spending, which accounts for about 70 percent of the gross domestic product in the world's largest economy, suggested an improving outlook for the economy, triggering a broad-based buying in the day.

U.S. retail sales edged up 0.2 percent in December following a downwardly revised 0.4-percent gain in November, the Commerce Department said, exceeding market forecasts.

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Two major U.S. banks posted a mixed picture in their earnings reports, and earnings reports from other banking giants are also due out later this week, which are expected to set the tone of the new earnings season.

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Legal costs, including the recently announced settlement over JPMorgan's involvement in Bernard Madoff's fraud, took a toll on the bank's results in the fourth quarter. However, the bank's shares managed to end in positive territory [url= http://www.teambuccaneersjerseys.com/m-j-stewart-jersey/]Black M.J. Stewart Jersey[/url] , up 0.07 percent to 57. 74 dollars.

Meanwhile, Wells Fargo & Company, the biggest U.S. mortgage lender, reported a record full-year and quarterly net income Tuesday. Its net income in 2013 was 21.9 billion dollars, up 16 percent from last year, while its fourth-quarter net income was 5. 6 billion dollars, up 10 percent year on year.

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The bank's shares turned higher, increasing 0.07 percent to 45. 59 dollars.

The CBOE Volatility Index, widely considered as a fear gauge of the market, tumbled 7.53 percent to finish at 12.28.

In other markets, U.S. oil price rose Tuesday on the encouraging retail sales. Light, sweet crude for February delivery moved up 79 cents at 92.59 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery lost 36 cents at 106.39 dollars a barrel.

Gold futures on the COMEX division of the New York Mercantile Exchange snapped a three-day winning streak on Tuesday [url= http://www.teambuccaneersjerseys.com/vita-vea-jersey/]Black Vita Vea Jersey[/url] , with the most active gold contract for February delivery down 5.7 dollars to settle at 1,245.4 dollars per ounce.

The U.S. dollar recovered against most major currencies on Tuesday, lifted by the positive retail sales data. The strong dollar fueled speculations that the Federal Reserve may further reduce the amount of its monthly bond purchases.

In late New York trading, the euro dipped to 1.3671 dollars from 1.3672 dollars of the previous session, and the dollar bought 104.24 yen, higher than 102.91 yen of the previous session.

CANBERRA, June 16 (Xinhua) -- Australia's Prime Minister Tony Abbott has maintained he will do "whatever is necessary" to keep asylum seeker boats out of Australian waters [url= http://www.teambuccaneersjerseys.com/lavonte-david-jersey/]Black Lavonte David Jersey[/url] , amid claims paying people smugglers has been a policy of successive governments.

The fresh allegations that the former Labor governments of Kevin Rudd and Julia Gillard were involved in the payment of people smugglers arose on Tuesday, following the current Abbott government's repeated refusal to deny its involvement in paying people smugglers to turn a boatload of asylum seekers back to Indonesia.

Australian intelligence officials have made cash payments to members of Indonesian people-smuggling rings for at least the past four years, a Fairfax Media report said on Tuesday.

It said multiple sources confirmed such payments were a tactic of successive governments, though incentivizing turnbacks were not the policy of the Rudd and Gillard governments.

Members of people-smuggling rings were paid for information about operations of the syndicate, or to dissuade them from launching boats, according to Fairfax.

When asked to comment, Labor said it would be unlawful to " divulge security or intelligence information [url= http://www.teambuccaneersjerseys.com/gerald-mccoy-jersey/]Black Gerald McCoy Jersey[/url] ," but denied paying people smugglers to keep people on unsafe boats.

The allegations place further pressure on Australia's weak relationship with Indonesia.

Indonesian Vice President Jusuf Kalla said on Tuesday that the 30,000 U.S. dollars in payments allegedly made to people smugglers by Australian officials to return asylum seekers to his country would amount to bribery.

Indonesia's Foreign Minister Retno Marsudi has accused Australia of "deflecting the issue," but Abbott remains defiant that "stopping the boats" is the major issue.

Government data says no boats of asylum seekers entered Australian territory in April or May.

"Again the only thing that really counts here is that we have stopped the boats," Abbott said on Tuesday. "The most moral thing you can do here is to stop the boats.

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