The Pryor Times

October 16, 2012

Stocks higher after retail sales improve


Associated Press

— Stocks rose on Monday after a strong gain in retail spending suggested that consumers could be getting more confident about the economy. Bank stocks rose broadly after Citigroup delivered a strong earnings report.

The Dow Jones industrial average rose 95.38 points to close at 13,424.23, its biggest gain since Sept. 13.

The Standard & Poor's 500 index was up 11.54 points at 1,440.13 and the Nasdaq composite index rose 20.07 points to 3,064.18.

Companies that rely on consumer spending, like Lowe's, TJX Cos. and Yum Brands, rose after the government reported that retail sales rose 1.1 percent in the U.S. last month.