Weaker retail sales aid Dow and S&P to rise - New York Report


TOCKS rose in a broad rally yesterday, bouncing back from two days of losses, helped by weaker retail sales that paused the dollar’s recent upward movement and tempered the outlook for interest rates.

The day’s gains lifted the Dow and S&P 500 back into positive territory for the year so far.

The Dow Jones industrial aver­age rose 259.83 points, or 1.47 per cent, to 17,895.22, while the S&P 500 gained 25.71 points, or 1.26 per­ cent, to 2,065.95. The Nasdaq Composite added 43.35 points, or 0.89 per cent, to 4,893.29.

Shares of Walt Disney rose 4.2 per cent to $107.17 and were the biggest percentage gainer in the Dow after it said it had started work on a sequel to Frozen, the best-selling animated movie of all time. Shares of Barbie maker Mattel gained 4.2 per cent to $25.65.

Citigroup saw shares up 3.3 per cent to $54.08.

Shares in Intel fell 4.7 per cent to $30.80.