US STOCKS-Wall St bounces after 3-day slump; off day's highs as oil falls
(Updates close with Adobe up after the bell, adds details on oil prices)
* Starboard Value takes stakes in Office Depot, Staples
* Initial claims fall, retail sales top expectations
* Indexes up: Dow 0.4 percent, S&P 0.5 percent, Nasdaq 0.5 percent
By Caroline Valetkevitch
NEW YORK, Dec 11 (Reuters) - U.S. stocks rose on Thursday as upbeat retail sales figures and other U.S. data pointed to a strengthening economy and lifted optimism about consumer spending.
Indexes ended well off their highs for the day, however, paring gains late in the session as U.S. crude oil fell below $60 a barrel for the first time in five years.
The gains came 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 on 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...