US STOCKS-Wall St bounces back after 3-day slump; off day's highs
(Updates to close)
* Starboard Value takes stakes in Office Depot, Staples
* Initial claims fall, retail sales top expectations
* Indexes up: Dow 0.4 pct, S&P 0.5 pct, Nasdaq 0.5 pct
By Caroline Valetkevitch
NEW YORK, Dec 11 (Reuters) - U.S. stocks rose on Thursday as upbeat retail sales and other U.S. data pointed to a strengthening U.S. economy and lifted optimism about consumer spending.
Indexes ended well off their highs for the day, however, paring gains late in the session as Brent oil settled down 0.9 percent, putting a lid on energy shares, and as worries increased about a possible U.S. government shutdown.
The gains come after the S&P 500 shed 2.4 percent over the previous three sessions, the worst run for the benchmark index in two months, as weak oil prices weighed down the energy sector.
Still, lower oil prices likely encouraged consumer holiday spending, and November retail sales beat expectations. Retailers were among the day's biggest percentage gainers on the S&P 500, including Urban Outfitters, up 7.6 percent at $32.29. The S&P retail index jumped 1 percent. Continuación...