US economic data gives shares a boost

A BIT of positive data on the US economy gave stocks a boost Tuesday, as traders brushed off new figures showing stalling European economic growth. The Dow Jones Industrial Average added 17.41 (0.14 per cent) to 12,096.39 in closing trade. The broad-based S&P 500 gained 6.02 (0.48 per cent) to 1,257.80, while the tech-heavy Nasdaq Composite rose 28.98 (1.09 per cent) to 2,686.20. US data released Tuesday showed that retail sales continued to rise in October, helped by a jump in electronics and appliances, while inflation was muted at the wholesale level. A key manufacturing index for New York also surged to its first positive reading in six months in November, suggesting an upturn in business conditions.