Stocks surged, sending U.S. benchmark indexes up the most since May, while the dollar and Treasuries slid as growth in American retail sales bolstered optimism in the earnings season and investors speculated European banks will pass stress tests.
Phil Lubov wore his favorite striped blue tie and brought a stack of resumes, aiming to land a holiday-season sales job to replace the retail position he lost in May. Part-time journalism teacher Gabe Walker said he arrived early, trying to boost his income.
U.S. stocks erased an early loss to finish little changed, leaving the Dow Jones Industrial Average at the highest level since July, as improving sales at retailers and carmakers helped offset lower-than-forecast factory orders.
In March, Ralph Ronzio went to a warehouse in a seedy part of Orange County, California, and watched a man auction off his condo for half what he’d paid for it. Ronzio had bought the place for $329,000 in 2005, when he moved to Southern California from Rhode Island to take a job at a data-storage company. It was the first place he’d ever owned.