Dow Rises to New High After Retail Sales Gain

December retail sales rose more than expected, but previous months' sales were revised down. AMD issued a fourth-quarter revenue warning

Stocks finished higher Friday, as the Dow hit a second straight all-time closing high following reports showing strong December retail sales increases and a surge in December import prices. A revenue warning from a tech bellwether was also in focus, while oil prices rebounded from a 19-month low. Short-covering ahead of the three-day holiday weekend helped drive gains, says Standard & Poor's Equity Research.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.