REFILE-US STOCKS-Wall St bounces on retail sales boost
(Fixes typo in word 'Arizona' in fourth paragraph)
* Starboard Value takes stakes in Office Depot, Staples
* Initial claims fall, retail sales top expectations
* Indexes up: Dow 0.73 pct, S&P 0.91 pct, Nasdaq 0.97 pct
By Chuck Mikolajczak
NEW YORK, Dec 11 (Reuters) - U.S. stocks rose on Thursday, bouncing sharply from a three-day drop as data pointed to a strengthening economy that appeared likely to weather the impact of a steep drop in oil prices.
The benchmark S&P index dropped more than 1 percent on Wednesday and had shed 2.4 percent over the prior three sessions, it's worst run in two months, as weakness in oil prices has weighed heavily on the energy sector.
But the weakness in oil has helped consumer holiday spending, with retail sales data for November beating expectations. The S&P retail index jumped 1.6 percent, lifted by a 1.4 percent climb in Home Depot to $100.36.
"We are starting to get some metrics around the energy and we are seeing that one 'X' factor of will consumers spend this extra money?" said Sean McCarthy, regional CIO for Wells Fargo Private Bank in Scottsdale, Arizona. Continuación...