By  on February 4, 2009

Wall Street on Tuesday registered its approval of recent cost-cutting measures by stores, sending retail shares up 3.3 percent.

The Standard & Poor’s Retail Index locked in an 8.49 point rise, to 267.66, and its percentage gain by far eclipsed the Dow Jones Industrial Average’s 1.8 percent advance, which put it back above the 8,000 benchmark at 8,078.36. The S&P 500 rose 1.6 percent to 838.51, while the Nasdaq Composite rose 1.5 percent to 1,516.30.

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