By  on January 7, 2009

Retail stocks managed to ignore the negative outlook on consumer spending and extend their rally Tuesday, rising 2.3 percent for the fifth positive trading session in a string that began Dec. 30.

The Standard & Poor’s Retail Index rose 6.87 points to close at 301.62, which is 45.4 percent above its all-time low of 207.49 on Nov. 21. The Dow Jones Industrial Average gained 0.7 percent, or 62.21 points, to 9,015.1.

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