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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles U.S. Markets Shake Off Weak Retail Sales, Finish Higher Email Facebook Digg Twitter Buzz Up! ShareThis June 11, 2010 4:58 p.m. EST Topics: market and exchange, economy, business and finance, securities, United States Mitchell Jaworski - AHN News Reporter New York, NY, United States (AHN) - U.S. markets opened much lower following a weak retail sales report, but we’re able to pare losses and finish higher as stocks rallied late. Before the opening bell, the Commerce Department said May retail sales dipped 1.2 percent as consumers tightened their belts after several months of increased spending. The decline was unexpected as economists predicted a 0.2 percent increase. The Dow Jones Industrial average added 39 points or 0.4 percent. Dow advancers outpaced decliners 20 to 10. Pfizer led the Dow, up 3.5 percent after results of a joint study with Bristol-Myers Squibb showed evidence that the drug apixaban reduced the risk of stroke among patients with abnormal heartbeats. The S&P 500 rose 5 points or 0.4 percent as nine of major economic sectors finished the session higher. Materials were the strongest sector, adding 1.2 percent. Consumer staples were the only lagging sector, down 0.8 percent on the day. Nasdaq Composite added 25 points or 1.1 percent as the tech sector held pace with a 1.1 percent gain. Crude oil snapped its winning streak, dipping 2.2 percent to settle at $73.78 a barrel on the New York Mercantile Exchange. On the economic front, the Michigan Consumer Sentiment Survey jumped in June, hitting 75.5, marking a two-year high, as the recent rise in personal income levels has boosted confidence. Monday’s market is clear of any economic news. Things will kick back up on Tuesday with the release of export-import prices and the Empire Manufacturing Survey. Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Most Popular Stories Big 12's Kansas, Mizzou, K-State On Mountain West Conference Radar Lakers, Celtics Prepare For Pivotal NBA Finals Game 5 As Oil Spill Spreads To Central Florida, So Do Protests Against BP U.S. Forges Surprising Tie Vs. England In World Cup Play Driver Neal Parker Killed In New Jersey NHRA Event Franklin Shrugs Off Broken Arm To KO Liddell At UFC 115 NBA Finals Surging In TV Ratings; Most Watched Game 4 In 16 Years Somali Pirates Free British-Flagged Ship Katy Perry Earns Second #1 With "California Gurls" Vanessa Hudgens, Jamie Lee Curtis Hit Disney California Adventure For "World of Color" Premiere Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2010 AHN All Rights Reserved

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