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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/jump-in-holiday-sales-boosts-dow.jpg"><img class="alignnone size-full" title="The Dow Jones industrial average rose by 1% to close at 11,362.41" src="http://londonglossy.com/wp-content/uploads/2010/12/min-jump-in-holiday-sales-boosts-dow.jpg" alt="The Dow Jones industrial average rose by 1% to close at 11,362.41"/></a></p>
<p>Strong retail sales and a healthy reading on the housing market helped US stocks start December with a two-day winning streak.</p>
<p>The Dow Jones industrial average rose 106 points. Combined with a 249-point gain Wednesday, the Dow has had its best two-day run since July 7-8.</p>
<p>Major retailers reported sales in November that were stronger than analysts expected. Increased spending during the holiday season would be a strong signal that consumers are feeling more confident.</p>
<p>&#8220;Any sign that the consumer is doing better means that the economy will be doing better,&#8221; said Drew Matus, a senior economist at UBS.</p>
<p>Costco Wholesale Corp, Target Corp and Limited Brands Inc all beat Wall Street sales forecasts. Teen retailer Abercrombie&#038;Fitch Co jumped 11% after reporting that its sales soared 32%.</p>
<p>&#8220;The consumer is strong and month after month retailing has been very strong,&#8221; said Ryan Detrick, the chief technical strategist at Schaeffer&#8217;s Investment Research. &#8220;If you take a step back it&#8217;s clear that the US economy continues to slowly expand.&#8221;</p>
<p>The National Association of Realtors said the number of people who signed contracts to buy homes jumped 10.4% in October. Economists expected a slight decline. Home builder KB Home rose by 4.5%.</p>
<p>The Dow rose 106.63, or 1%, to close at 11,362.41 The Dow jumped 2.3% on Wednesday, its biggest gain since September 1, after a report showed that private employers were adding jobs. The broader Standard&#038;Poor&#8217;s 500 index rose 15.46, or 1.3%, to 1,221.53. The Nasdaq composite index rose 29.92, or 1.2%, to 2,579.35.</p>
<p>Rising shares outpaced falling ones more than two to one on the New York Stock Exchange. Volume was 1.1 billion shares.</p>
<p>The rise in both retail sales and existing home sales overshadowed an unexpected rise in new claims for unemployment benefits. The Labour Department said first-time unemployment claims rose to 436,000 last week.</p>
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