* Retail sales, jobless claims lend support to markets
* Williams' stock falls after blast at chemical plant
* Indexes up: Dow 0.5 pct; S&P 0.6 pct; Nasdaq 0.5 pct
By Angela Moon
NEW YORK, June 13 (Reuters) - U.S. stocks bounced back on
Thursday, with the Dow again above 15,000, as
stronger-than-expected data on retail sales and the jobs market
signaled the economy may be shaking off a recent soft patch.
Equities had initially headed into the session looking
weaker following a slump in stocks globally, especially Japan's
Nikkei. On Wednesday the Dow slid more than 100 points.
Investors are trying to gauge when central banks around the
world - particularly the Federal Reserve - will pull back on
their accommodative monetary policy.
"The bright spot for the entire week was the data point
today on U.S. retail sales. That data supports the notion that
the U.S. consumer is moving forward with spending despite the
uncertainty of Fed tapering," said Anastasia Amoroso, global
market strategist at J.P. Morgan Funds in New York.
Comments by Fed Chairman Ben Bernanke last month stoked
worries that the central bank could slow its $85 billion a month
bond purchase program sooner than expected. Investors were
looking to the Fed's policy-setting committee meeting next week
for clarity on how soon the Fed will end its stimulus measures.
"Going into next week, I think the consensus positioning is
that tapering is maybe more imminent than in fact we think it
is. If in fact the Fed does not hint at an imminent exit from QE
next week, we could get a little bit of a relief rally," Amoroso
The Dow Jones industrial average was up 69.80 points,
or 0.47 percent, at 15,065.03. The Standard & Poor's 500 Index
was up 9.25 points, or 0.57 percent, at 1,621.77. The
Nasdaq Composite Index was up 17.55 points, or 0.52
percent, at 3,417.98.
Stocks got a lift after data showed retail sales rose more
than expected in May and first-time applications for jobless
benefits fell last week, suggesting resilience in the economy.
Merger and acquisition activity also buoyed sentiment.
Shares of No. 1 U.S. newspaper chain Gannett Co Inc
jumped 22.2 percent to $24.25 after saying it will buy
television company Belo Corp for $1.5 billion. Belo
surged 27.4 percent to $13.67.
Shares of William Cos, parent of Williams Olefins,
fell 2.4 percent to $33.20 after a large explosion and fire hit
the company's chemical plant in Louisiana on Thursday.
Authorities said an unknown number of injured were being
Nervousness over the withdrawal of economic support was
exacerbated earlier this week when the Bank of Japan held its
monetary policy steady. Investors have been unwinding some of
the trades built around central bank support. The benchmark S&P
500 has advanced about 13 percent so far this year.
In contrast to the stronger data, the World Bank cut its
forecast for global growth to 2.2 percent this year, down from
its previous estimate of 2.4 percent and slightly below last
year's growth of 2.3 percent.
A recent report showed total estimated outflows from
long-term mutual funds were $11.53 billion for the week ended
June 5, of which $10.9 billion came from bond funds. In the
previous week, bond funds saw an inflow of $1.36 billion and
another inflow of $4.1 billion in the week that ended May 22.
In contrast, outflows from the equity market were $942
million for the week ended June 5, down from $1 billion in the
previous week and $2.6 billion in the week that ended May 22.
The figures were from the Investment Company Institute.
In other company news, Safeway shares surged more
than 9 percent to $25.19 a day after Empire said it
would buy Safeway's assets in Canada for $5.7 billion.
Shares of perfume and beauty products seller Coty Inc
fell in their market debut on Thursday, taking the
gloss off the third-largest U.S. IPO this year. Coty shares fell
1.4 percent to $17.27.