Wall Street rose for a second straight day on Tuesday as consumer confidence bounced back from a 2-1/2 year low in November, feeding appetite for risky assets.
Italian bond yields fell from session highs, calming fears about Europe's debt crisis, but were still at record high rates. Investors also eyed a meeting of European officials in hopes they will provide a step forward in resolving the region's debt crisis.
The Conference Board, an industry group, said its index of consumer attitudes jumped to its highest level since July, handily topped economists' forecasts. For details, see
I don't know how long the impact will last, but it (consumer confidence data) did give us a nice pop, especially coming on the growing optimism that a European deal will be done, said Phil Flynn, senior market analyst with PFG Best in Chicago.
The Dow Jones industrial average <.DJI> rose 72.81 points, or 0.63 percent, at 11,595.82. The Standard & Poor's 500 Index <.SPX> put on 8.82 points, or 0.74 percent, at 1,201.37. The Nasdaq Composite Index <.IXIC> added 6.91 points, or 0.27 percent, at 2,534.25.
Adding to the upbeat mood, U.S. retailers are optimistic about the holiday shopping season after racking up record sales over the Thanksgiving weekend.
In company news, shares of AMR Corp
U.S. stocks rebounded from seven days of losses on Monday, with the S&P closing up nearly 3 percent.
(Reporting by Angela Moon; editing by Jeffrey Benkoe)