By  on December 20, 2011

A stronger-than-expected gain in housing starts and signs of stability in Europe sparked a dramatic rally today on Wall Street, where trading is lighter than usual due to the holiday season.

The S&P Retail Index shot up 2.9 percent, or 14.65 points, to 528.76 as the Dow Jones Industrial Average retook 12,000 decisively, rising 2.9 percent, or 337.32, to 12,103.58.

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