US STOCKS-Wall St rises after ECB statement, retail sales data

Reuters

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    * U.S. retail sales in May beat expectations
    * Comcast jumps after making $65 bln offer for Fox 
    * Mylan drops after FDA sees minor deficiencies in Advair
generic
    * Indexes up: Dow 0.25 pct, S&P 0.22 pct, Nasdaq 0.41 pct  

 (Updates to open)
    By Sruthi Shankar
    June 14 (Reuters) - U.S. stocks rose on Thursday after the
European Central Bank promised not to raise euro zone interest
rates before the middle of next year and on better-than-expected
May retail sales data.
    The bank's statement came as a relief, especially after the
U.S. Federal Reserve raised interest rates for the second time
this year on Wednesday and hinted at two more hikes by the end
of 2018.
    ECB, however, said it would wind down its 2.55 trillion euro
stimulus program by the close of the year.  urn:newsml:reuters.com:*:nL8N1TG0UZ
    "There's some concern that we're going to see a lot tighter
policy. But both the Fed and the ECB, especially, are very
accommodative at this point and it doesn't look like it's going
to derail the expansion that we're seeing anytime soon," said
Scott Brown, chief economist at Raymond James in St. Petersburg,
Florida.
    Comcast  CMCSA.O  jumped 4.4 percent after the company
offered Twenty-First Century Fox  FOXA.O  $65 billion to lure
Fox away from a merger with Walt Disney  DIS.N , with a 20
percent higher offer.  urn:newsml:reuters.com:*:nL4N1TF5B8
    Disney also rose 2.1 percent, providing the biggest boost to
the Dow Jones Industrial Average.
    Data on Thursday showed U.S. retail sales increased more
than expected in May, its biggest advance since November 2017
that indicated an acceleration in economic growth in the second
quarter.  urn:newsml:reuters.com:*:nL1N1TF1ZT
    Other data showed a further tightening in labor market
conditions, with the number of Americans on jobless rolls
declining to a near 44-1/2-year low.
    At 9:56 a.m. EDT the Dow Jones Industrial Average  .DJI  was
up 63.60 points, or 0.25 percent, at 25,264.80, the S&P 500
 .SPX  was up 6.04 points, or 0.22 percent, at 2,781.67 and the
Nasdaq Composite  .IXIC  was up 31.43 points, or 0.41 percent,
at 7,727.13.
    Nine of the 11 major S&P sectors were higher, led by a 0.7
percent gain in the consumer discretionary index  .SPLRCD  
    Oracle  ORCL.N  dropped 4.6 percent after Nomura cut its
price target on the business software maker's stock.
    Mylan  MYL.O  fell 3.8 percent after the company said U.S.
regulators were unable to approve its generic version of inhaled
lung drug Advair as they found "minor deficiencies" in the
treatment.  urn:newsml:reuters.com:*:nL4N1TF5DB
    Advancing issues outnumbered decliners for a 2.03-to-1 ratio
on the NYSE and for a 1.47-to-1 ratio on the Nasdaq.
    The S&P index recorded 22 new 52-week highs and one new low,
while the Nasdaq recorded 85 new highs and 11 new lows.

 (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil
D'Silva)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 6328; Reuters Messaging:
sruthi.shankar.reuters.com@reuters.net))

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