U.S. stocks higher amid mixed retail data
www.chinaview.cn 2009-12-01 05:51:00   Print

    NEW YORK, Nov. 30 (Xinhua) -- U.S. stocks rose after a choppy session on Monday as investors tried to digest mixed data on consumer spending in this year's holiday shopping season.

    Retailers were among the weakest performers on Monday. The National Retail Federation said it expects the holiday sales to slip one percent compared with last year. The trade group said that more consumers went shopping over the Thanksgiving holiday weekend, but spent less than last year as they hunted for bargains.

    But the online retailers managed to be the bright spot, which gained on so-called Cyber Monday, the post-Thanksgiving e-commerce event when more consumers are expected to go shopping online.

    Stocks around the world tumbled on Dubai's debt problem last week. But markets in Asia and Europe rebounded after the UAE central bank said it will make extra funding available to all banks in the country. And investors in New York seem to hold little of Dubai's debt as the concern eased.

    Dollar pared losses against other major currencies on Monday, which sent the prices of some commodities and commodity related stocks down.

    The Dow Jones rose 34.92, or 0.34 percent, to 10,344.84. Broader indexes also went slight higher. The Standard & Poor's 500index gained 4.14, or 0.38 percent, to 1,095.63 and the Nasdaq added 6.16, or 0.29 percent, to 2,144.60.

Editor: Yan
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