Wall St. rallies as retailers gear up for Christmas

0 Comments | AFP, November, 2007

NEW YORK (AFP) — US stock markets rallied higher Friday as big retailers kicked off the critical pre-Christmas shopping season with tempting discounts aimed at persuading consumers to keep spending.

The market rebound ended a volatile week on Wall Street and followed sharp falls on Wednesday ahead of Thursday's Thanksgiving Day holiday.

The Dow Jones Industrial Average closed up a notable 181.84 points (1.42 percent) at 12,980.88.

The technology-stacked Nasdaq composite jumped 34.45 points (1.34 percent) to 2,596.60 and the Standard & Poor's 500 broad-market index soared 23.93 points (1.69 percent) to a finish of 1,440.70.

Wall Street's surge came after European stock markets had also closed higher for the weekend.

US investors were closely...

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