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Silver Wheaton (SLW) Stock Jumps as Silver, Gold Prices Gain

NEW YORK (TheStreet) -- Silver Wheaton (SLW - Get Report) stock is rising by 7.19% to $14.69 in late afternoon trading on Wednesday, as silver and gold prices gain on the lower likelihood that the Federal Reserve will hike interest rates this year.

U.S. retail data released today shows that sales gained by 0.1% in September from August, short of the estimated 0.2% rise, according to the Wall Street Journal.

The disappointing data is fueling speculation that the U.S. central bank will delay increasing interest rates until 2016, as the Fed has tied higher rates to a stronger economy. A rate increase will likely weigh on non-interest bearing commodities such as silver and gold that will struggle to compete with yield-bearing assets.

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Silver is up 1.53% to $16.15 per ounce and gold is increasing 1.85% to $1,186.90 per ounce on the COMEX this afternoon.

Silver Wheaton, based in Vancouver, Canada, is a mining company that generates its revenues from the sale of silver and gold.

Separately, TheStreet Ratings team rates...