Stocks rise early as retail sales rebound in Oct.

Nov 16th, 2009 - ABC 7 News

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NEW YORK - Stocks rose in morning trading Monday after a new report showed retail sales rebounded more than expected in October because of a boost in auto sales.The U.S. market also followed overseas gains that were propelled by a weakening dollar and stronger gold prices, which again boosted commodities and shares of companies that produce raw materials.

The Commerce Department said retail sales rose 1.4 percent in October, easily surpassing the 0.8 percent economists polled by Thomson Reuters forecast. It was a sharp rebound from a 2.3 percent decline seen in September.

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