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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (529470)	11/16/2009 1:03:24 PM
From: Road Walker	Respond to of 1573924

Stocks jump as retail sales rebound in October By STEPHEN BERNARD and TIM PARADIS, AP Business Writers Stephen Bernard And Tim Paradis, Ap Business Writers 13 mins ago NEW YORK – Investors grew more upbeat about the economy Monday after retail sales rebounded more than expected in October and as a weaker dollar sent commodity prices higher. Major stock indexes rose more than 1 percent to new 13-month highs, including the Dow Jones industrial average, which jumped 115 points. The Standard & Poor's 500 index topped 1,110, the first convincing move above 1,100 after hovering around that level for the past month. Stocks pared some of their gains after Federal Reserve Chairman Ben Bernanke said policymakers would monitor the dollar while at the same time repeating that the Fed will hold interest rates low until the economy strengthens. Low interest rates and easing fears about the global economy have weakened demand for the dollar. In prepared remarks for a speech to the Economic Club of New York, Bernanke said the Fed will "ensure that the dollar is strong and a source of global financial stability." The rare discussion about the dollar from the Fed gave a boost to the currency, which pulled off its lows. That weighed on the gains of major stocks indexes. Weakness in the dollar earlier Monday lifted gold to a new record and pumped up prices of other commodities, including oil. That, in turn, helped shares of energy and materials companies. In afternoon trading, the Dow rose 116.46, or 1.1 percent, to 10,386.93 after rising nearly 143 points ahead of Bernanke's speech. The broader S&P 500 index rose 15.31, or 1.4 percent, to 1,108.79. It traded above 1,100 in mid-October but hasn't closed above that benchmark since October last year. The Nasdaq composite index rose 28.89, or 1.3 percent, to 2,196.77.