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Stocks Close Higher on Upbeat Retail Sales Data

The Dow made a triple-digit jump on Tuesday and the S&P 500 rebounded from its largest decline in two months, after upbeat retail-sales data for December helped offset lingering concerns from Friday's monthly jobs report.

The Dow Jones Industrial Average closed 115 points higher, with Intel leading blue-chip gains that included 25 of its 30 components.

The S&P 500 climbed 19 points, or 1.1 percent, with technology and energy the best performing of its 10 major sectors. The Nasdaq gained 69 points, or 1.7 percent.

Earlier, the Commerce Department reported retail sales rose 0.2 percent last month after a 0.4 percent advance the prior month.

The gauge of consumer spending was viewed as particularly important in light of Friday's dismal jobs report for December, which had the government reporting the addition of 74,000 to non-farm payrolls, far below estimates of about 200,000. The Bureau of Labor Statistics also reported the unemployment rate fell to from 7 percent to 6.7 percent, with decline chalked up to the high number of those not actively looking for work.

Traders work on the floor of the New York Stock Exchange on Tuesday where the Dow ended 115 points higher
Traders work on the floor of the New York Stock Exchange on Tuesday where the Dow ended 115 points higher BRENDAN MCDERMID / Reuters