Summary Box: Retail sales, jobs send stocks higher

AP News
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Posted: Jul 07, 2011 5:26 PM
Summary Box: Retail sales, jobs send stocks higher

JOBS: Payroll processor Automatic Data Processing said companies added 157,000 employees in June. The tally is more than double the number economists had forecast and far more than the 36,000 added the previous month.

RETAIL SALES: 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.

THE INDEXES: The Dow gained 93.47 points, or 0.7 percent, to close at 12,719.49. The Standard and Poor's 500 index added 1.1 percent to 1,353.22. The Nasdaq composite closed at 2,872.66 after gaining 1.4 percent.