S&P 500 rises in broad rally on soft landing bets

News Snapshot:

On Wall Street, the Dow was more than 370 points higher in late trade, putting 35,000 on its radar. The S & P 500 rallied back above the 4500 level. US retail sales increased more than expected in August, Reuters reported, as a surge in gasoline prices boosted receipts at service stations, but the trend in underlying spending on goods slowed as Americans grappled with higher inflation and borrowing costs. Retail sales in the US rose 0.6 per cent last month. Data for July was revised lower to show sales advancing 0.5 per cent instead of the previously reported 0.7...