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This is an archive article published on April 9, 2010

Consumers power US stocks

Investors look past Greece worries to retail sales.

Global markets will be breathing easy as US stocks gained a day after the surprising hiccup that broke a two-month winning streak.

The U.S. stock market recovered from an early slide after gains in retail sales overshadowed concerns about Greece8217;s debt problems.

Stocks have ended higher Thursday following a report that sales at the nation8217;s major retailers rose 9 percent last month.

The market fell in morning trading after Greece8217;s borrowing costs rose to a record level. That signals that a recently announced rescue plan for the country might not prevent a default.

The Dow Jones industrial average is up 30 to close at 10,927. The Standard amp; Poor8217;s 500 index is up 4 at 1,186.44. The Nasdaq composite index rose 6 to 2,437.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange. Volume came to 1 billion shares compared with 1.2 billion Wednesday.

 

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