Stocks, bonds, and the dollar are rallying. Near 10:40 a.m. ET, the Dow was up 45 points, the S&P 500 was up 2 points, and the Nasdaq was up 3 points. The rally in stocks follows a strong trading session Wednesday that saw the S&P 500 achieve its biggest percentage gain in four weeks and the S&P 500 close higher for the first time in five days. The IMF pulled out its team negotiating with Greece in Brussels on Thursday. It said "no progress" has been made on its "major differences" with the Greek government, Bloomberg reported. Stocks fell slightly on the news, but the reaction was stronger in European markets. The German Dax fell over 100 points, and the 10-year German bund yield fell to as low as 0.875%, after crossing 1% earlier. Everyone had been waiting for the latest retail sales report out before the market opened, which beat expectations and showed the biggest gain in 14 months. Retail sales rose 1.2% in May and rose 1% when excluding auto sales. Excluding gas and auto sales, retail sales rose 0.7% in May, better than expected. In other economic data, initial jobless claims rose to 279,000 last week from a revised 277,000 in the prior week. This was the 14th straight week that claims came in below 300,000. After the retail sales data, the dollar firmed against the euro, trading at around 1.1254. The US dollar index jumped to the high of the day, as much as 95.59. The yield on the benchmark 10-year treasury note touched 2.5% early this morning for the first time since September. After the economic data dropped, the yield fell to around 2.44%.Join the conversation about this story » NOW WATCH: Two models in Russia just posed with a 1,400-pound bear
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