Rally among retailers pushes stock market higher
BY Wire Reports
Wednesday, January 16, 2013
1/16/13 at 2:16 AM
Stock indexes edged higher Tuesday, buoyed by a rally in retail stocks.
The Dow Jones industrial average gained 27.57 points to 13,534.89 and the Standard & Poor's 500 rose 1.66 points to 1,472.34, a five-year high.
Retail stocks were boosted by a report that showed sales increased in December. Consumers bought more autos, furniture and clothing, the Commerce Department reported.
Shares of J.C. Penney rose 62 cents, or 3.4 percent, to $18.71. Dollar General gained $1.62, or 3.8 percent, to $44.64.