The Dow Jones industrial average rose more than 140 points Tuesday, thanks in part to signs that concerns of a global slowdown may be overblown.
Nike Inc.'s results came in much higher than analysts expected. That pushed the company's stock up 10 percent and led to a rally in stocks of clothing stores, restaurants and jewelers. Those companies tend to do well when consumers are less worried about things like high gas prices and are more willing to spend money.
The Dow Jones industrial average gained 145.13 points, or 1.2 percent, to 12,188.69.
The Standard & Poor's 500 index rose 16.57, or 1.3 percent, to 1,296.67.
The Nasdaq composite index added 41.03, or 1.5 percent, to 2,729.31.
For the week:
The Dow is up 254.11, or 2.1 percent.
The S&P is up 28.22, or 2.2 percent.
The Nasdaq is up 76.42, or 2.9 percent.
For the year to date:
The Dow is up 611.18, or 5.3 percent.
The S&P is up 39.08, or 3.1 percent.
The Nasdaq is up 76.44 points, or 2.9 percent.