By and and  on June 28, 2011

Retail stocks rose 1.6 percent Tuesday as increasing optimism that Greece would be able to work out its debt troubles outshined a bigger-than-expected drop in consumer confidence, which underscored continuing weakness in the U.S. economic recovery.

The S&P Retail Index increased 8.20 points to 526.62 as the Dow Jones Industrial Average advanced 1.2 percent, or 145.13 points, to 12,188.69. Nike Inc. led the way up with a 10.1 percent rise to $89.90 following stronger-than-expected fourth-quarter sales and profits, reported Monday afternoon.

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