By  on March 21, 2008

Retail shares gained momentum on Thursday after commodities future prices declined, giving investors hope consumers might step up their pace of spending as a result of lower energy and food costs.

The Dow Jones Industrial Average closed up 261.7 points to 12,361.32, while the broader S&P 500 grew 2.4 percent to 1,329.66. The S&P Retail Index surged 4.9 percent to 395.77.

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