(CNBC) U.S. stocks traded higher on Thursday as mixed economic data indicated to some investors that the Federal Reserve will not raise interest rates as early as anticipated.
The market rebound is "probably in response to a lot of folks (who) think the Fed will not be raising rates. The U.S. economy seems to be cooling," said Bruce Bittles, chief investment strategist at RW Baird, citing weak retail sales that offset an encouraging decline in jobless claims.
Bittles added that at the beginning of the year his firm had expected the Fed not to raise rates because of strength in the dollar and instability in the global economy, two ongoing conditions.
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