US stocks surge, breaking a three-day slump

Stocks surge, breaking three-day slump; good news on US economy outweighs a slump in Japan

Associated Press
US stock market moves sharply higher
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In this Monday, June 10, 2013 photo, traders Joel Lucchese, left, and Brandon Barb confer on the floor of the New York Stock Exchange. Global stock markets endured sharp losses Thursday June 13, 2013 as gyrations on the Tokyo market, the Asian region's biggest, continued _ fueled by worries about a surging yen and monetary policies in the U.S. (AP Photo/Richard Drew)

NEW YORK (AP) -- Stocks are surging on Wall Street as investors focus on positive news about the U.S. economy.

The Dow Jones industrial average ended up 180 points, or 1.2 percent, at 15,176 Thursday.

The market got off to a weak start, then rose steadily throughout the day. The advance accelerated in the last hour. The Dow is coming off its first three-day slump since December.

The Standard & Poor's 500 index gained 23 points, or 1.5 percent, to 1,636. The Nasdaq composite rose 44 points, or 1.3 percent, to 3,445.

The number of Americans seeking unemployment benefits fell last week, and retail sales increased 0.6 percent in May from April.

Five stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3.4 billion shares.

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