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Retail sales and jobs reports send stocks higher

Published 07/08/2011, The Jamestown Sun

NEW YORK — A rebound in retail sales and strong jobs reports pushed stocks near their highest levels of the year. U.S. retailers had their best June sales results since 1999 as shoppers were lured into stores by warm weather and deep discounts. Kohl’s Corp., Target Corp., and Urban Outfitters Inc. each gained more than 6 percent. Investors have been concerned that high gas prices would constrain consumer spending as people looked for ways to save money. The higher sales figures reassured markets that consumers were becoming more willing to spend again.

Word count: 261

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