REFILE-US STOCKS-Wall St rallies on data after three-day slump

jueves 11 de diciembre de 2014 13:51 GYT
 

(Removes inadvertent apostrophe in second paragraph.)

* Starboard Value takes stakes in Office Depot, Staples

* Initial claims fall, retail sales top expectations

* Indexes up: Dow 1.12 pct, S&P 1.24 pct, Nasdaq 1.39 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 could 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, its worst run in two months, as weakness in oil prices has weighed heavily on the energy sector.

But data indicated that lower oil prices encouraged consumer holiday spending, with retail sales data for November beating expectations. The S&P retail index jumped 2.1 percent, lifted by a 2 percent climb in Home Depot to $100.96.

"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...