US stocks rise on positive retail data
December 14th, 2011 - 5:23 am ICT by IANSNew York, Dec 14 (IANS) US stocks opened higher Tuesday on positive retail data.
According to the commerce department, US retail sales rose 0.2 percent after a 0.6-percent gain in October.
The less-than-expected figure in November was due to a decline in receipts for food and beverages and stronger sales of motor vehicles, Xinhua reported.
Meanwhile, Spain’s treasury sold 4.9 billion euros of 12- and 18-month treasury bills, but the yields still remained high.
Investors now worried that the rating agencies will downgrade 15 eurozone countries after Standard and Poor’s threatened to do so.
The Dow Jones industrial average gained 106.41 points, or 0.89 percent, to 12,127.80. The Standard & Poor’s 500 was up 10.95 points, or 0.89 percent, to 1,247.42. The Nasdaq Composite Index rose 26.16 points, or 1.00 percent, to 2,638.34.
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Tags: commerce department, decline, dow jones, dow jones industrial, dow jones industrial average, eurozone countries, food and beverages, investors, motor vehicles, nasdaq composite index, new york dec, receipts, retail data, s 500, spain, standard and poor, stocks, treasury bills, us retail sales, xinhua