Earnings data help stocks regain ground

August 18, 2009 2:49:21 PM PDT
Now investors seem to be saying, maybe things aren't so bad after all.

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Some better-than-expected retail earnings reports and the latest reading on housing Tuesday have drawn investors back into the stock market after Monday's big selloff.

Investors are still wary about consumer spending and the economy as a whole. But analysts say they're putting things in perspective, believing that the big drop was a bit overdone.

The Dow Jones industrials rose 82, or 0.9 percent, to 9,217, while the Standard & Poor's 500 index rose almost 10, or 1 percent, to 989. The Nasdaq composite index gained 25, or 1.3 percent, to 1,955.

Rising stocks outpaced decliners by 4 to 1 on the New York Stock Exchange, where volume came to an extremely light 991.1 million shares.

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