Mumbai, July 18 -- The Nasdaq advanced 153.78 points or 0.7% to 20,884.27, the S&P 500 climbed 33.66 points or 0.5% to 6,297.36 and the Dow rose 229.71 points or 0.5% to 44,484.49.

Commerce department released a report showing retail sales rebounded by much more than expected in June. The report said retail sales climbed by 0.6% in June after slumping by 0.9% in May. Economists had expected retail sales to inch up by 0.1%. Excluding a jump in sales by motor vehicle and parts dealers, retail sales still rose by 0.5% in June after edging down by 0.2% in May. Ex-auto sales were expected to rise by 0.3%.

Labor Department published a report showing first-time claims for U.S. unemployment benefits unexpectedly dipped to a three-month low in t...